Search
 

Secondary Market Mall Trades for Twice 2007 Price

MIAMI—“It is an extremely well located property and the seller, who acquired it from a lender in 2013, was able to increase occupancy with several very successful tenants catering to the immediate community.”

By Jennifer LeClaire | jenniferleclaire | Updated on February 23, 2017

“It is an extremely well located property and the seller, who acquired it from a lender in 2013, was able to increase occupancy with several very successful tenants catering to the immediate community." “It is an extremely well located property and the seller, who acquired it from a lender in 2013, was able to increase occupancy with several very successful tenants catering to the immediate community.”

MIAMI—The Oveido Mall, a 554,973- square-foot retail property in a suburb of Orlando, has traded hands. The sale price: $15.3 million.

To be sure, Oveido Mall is not at the top of the mall occupancy world. The shopping center has plenty of vacancy. But the buyer, a group headed by Mehmet Ilbak of Los Angeles that acquired the mall, saw a value-add opportunity and seems to have transformation in mind.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.