ORLANDO—H&R REIT snapped up Regency Village, an 83,167-square-foot shopping center, for $16 million. Cohen Commercial Properties sold the retail asset in an off market deal. The sale price was in line with other recent Publix-anchored retail deals that have traded in Central Florida.

Michael Cleeman, vice president of Cohen & Company, represented H&R REIT. Helen Putterman, president of Cohen & Company, represented Cohen Commercial Properties. H&R REIT recently acquired four Publix-anchored retail properties in the Central Florida area.

“This transaction showed great confidence in the Orlando retail market that has seen a strong comeback in tourism over the past year with over 55 million tourists,” Cleeman tells GlobeSt.com. “The property’s location across from the Orlando premium outlets—which recently announced a 100,000-square-foot expansion—and a high sales volume Publix will keep this property successful for many years to come.”

Located at the busy intersection of Vineland Avenue and International Drive South in Orlando, Regency Village is one of the largest outlet centers in the United States. The retail property is anchored by a high sales volume Publix Supermarket and Outback Steakhouse.