Lexin Capital Buys Hot Disney Property

CELEBRATION, FL-On the market for over a year, Celebration’s 273,000-sf Town Center, called Market Street, and three prime undeveloped land parcels are under new ownership today.

Lexin Capital, a four-year-old, New York-based private investment firm, contracted for the real estate in December and closed the deal Jan. 21 in Celebration. Neither party disclosed the purchase price; however, Orlando industrial brokers in a position to know tell GlobeSt.com the deal went down at about $42.3 million.

Brokers base their estimate on evaluating the 273,000 sf of class A office, retail and multifamily space at an average replaceable cost of $150 per sf. They estimate the 6.8 acres in the three land parcels at $200,000 per acre, or close to $1.4 million.