MIAMI—In an example of how retail real estate investors are looking to secondary and even tertiary markets, College Station Retail Center in Clermont, FL has traded hands. The retail asset, which is in an Orlando suburb, sold for $11.5 million.
Jim Michalak of Plaza Advisors represented the seller, REDUS Florida Commercial, LLC, in the deal. Clermont College Station, LLC, a private equity firm, acquired the retail property.
The retail center spans 65,460 square feet of gross leasable area and includes several national, anchor, inline and outparcel tenants. Key tenants are Office Depot, Petco, Starbucks, Chick-fil-A, BB&T, Steak 'n Shake, Subway, and Chili's.
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