ORLANDO-An affiliate of Jaymar Estates has taken the deed to Hollywood Plaza Shopping Center in a $17-million transaction. RP Properties was the seller of the retail asset.
Located at the corner of International Drive and Sand Lake Road here, the Hollywood Plaza Shopping Center is 56,666 sf. The property is 100% leased and the tenant roster includes Friday's Front Row Grill, Bargain World and BOLA Ristorante.
Daniel Baker, vice president of the Private Client Group/Investment Sales with CB Richard Ellis in Orlando, represented RP Properties. He declined to reveal the cap rate to GlobeSt.com.
Despite the sale, RP Properties still has a presence in Central Florida. It owns the Baldwin Park Village, Uptown Altamonte project and the retail portion of the Plaza development in Downtown Orlando. Jaymar is a partner in the Blue Rose luxury resort in the Orange County Convention Center/Universal Studios.
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