Waterbridge Downs Shopping Center Sold

ORLANDO-Waterbridge Downs, a 14-year-old, 112,933-sf neighborhood shopping center in south Orlando that has managed to hold on to a 99% occupancy level despite a turbulent retail environment, is under new ownership today.

Continental Real Estate Cos. of Miami paid Atlanta-based Watkins Retail Group $6.95 million or $61.54 per sf for the property at South Orange Blossom Trail and Waterbridge Boulevard. A 42,112-sf Big Lots anchors the center.

Area brokers tell GlobeSt.com the $61.54-per-sf-price is in line with recent sales for comparable properties but still below prices that newer retail centers are demanding and receiving.