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Buyers OK Paying More for This Retail

ORLANDO—“The strong sale price secured by Parkway Plaza is a good indicator that buyers are willing to pay for income-generating retail centers" like Parkway Properties in Orlando, says CREC's Harry Blyden

By Jennifer LeClaire | Updated on June 04, 2014

ORLANDO—Parkway Plaza has a new owner—and it’s strategic location may have helped it turn investor heads. The 65,000-square-foot shopping center is a half-mile from Orlando’s The Mall at Millennia. The retail asset sold for $8.5 million.

CREC chairman Warren Weiser and senior vice president Harry Blyden represented the property’s seller, a Tenant-in-Common (TIC) ownership group managed by Los Angeles-based National Asset Services. The group acquired the retail center in 2004. The buyer was J-9 Land Partners, a private investment firm based in Ormond Beach, Florida.

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