CTO Realty Growth has acquired Marketplace at Seminole Towne Center, a 318,000 square foot multi-tenant retail power center in the Sanford submarket of Orlando, Fla., for $68.7 million.
"This dominant, Target shadow-anchored center allows us to increase our exposure to the high-growth Orlando market and existing top tenants such as Ross Dress for Less, TJX Companies, and Burlington," said John P. Albright, President and CEO in prepared remarks.
He added that the center has growth potential and the firm sees "attractive potential upside from below-market rents" especially as the property was at below replacement cost.
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