"The cost replacement factor is probably the key element in many of these deals," Dean Fritchen, senior broker at Coldwell Banker Commercial NRT in Winter Park,, tells GlobeSt.com. "If it's going to cost you more to put up a new small building than it is to buy an existing structure that you could renovate and retrofit to your needs, then buying the existing building is almost always the best choice."

That may have been one of the factors that convinced Shops at Hancock LLC to pay Chester C. Fosgate Co. of Winter Park $3.2 million, or about $229.64 per sf, for a 14,000-sf retail building adjacent to a 150,000-sf SuperTarget in Clermont, brokers tell GlobeSt.com.

In that deal, Fosgate retained ownership of the five outparcels in the SuperTarget shopping center. Daryl M. Carter of Maury L. Carter & Associates Inc. and Scott Renick of Crossman & Co. represented the seller. Lou Fabrizio of Primerica Group One Inc. negotiated for the buyer.