ORLANDO—Orlando's retail market is gaining momentum, with tightening vacancy and growing investor interest. The latest example is the $37.3 million sale of Colonial Landing, a leasehold interest in a 259,024-square-foot retail power center there.

HFF senior managing director Brad Peterson, associate director Whitaker Leonhardt and real estate analyst Anthony Frogameni marketed the retail property on behalf of the seller, a joint venture between Weingarten Realty Investors and other private investors. Retail Centers of America, advised by Lincoln Retail REIT Services, a division of Lincoln Property Company, purchased the asset free and clear of existing debt.

"This transaction was one of the larger trades in Orlando retail this year and unique because the sale was for the leasehold interest in the shopping center,” Peterson, HFF tells GlobeSt.com. “With cap rates continuing to compress on strong retail centers, the sale of the leasehold interest provided slightly more yield to investors than a fee simple deal which was well received in today's aggressive environment.”