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Core Investment Management Acquires Orlando Square Shopping Center In Orlando For $25.1M

Property Image
SOLD
$25,100,000
Jim Michalak
Jeff Berkezchuk

Florida

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Retail183,877 SF
Sold 06/12/2023
the dealplayerscompscontact
Property Image
SOLD

Core Investment Management Acquires Orlando Square Shopping Center In Orlando For $25.1M

1700 Sand Lake Rd Orlando, FL 32809, USA

See Similar Deals
Retail183,877 SF
Sold 06/12/2023
Jim Michalak
Jeff Berkezchuk
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$136
Total Square Footage:183,877 SF
Transaction Type:Sale

Core Investment Management has acquired Orlando Square, a 183,877-square-foot shopping center located at 1700 Sand Lake Road in Orlando, Florida. The property was sold by Apollo Global Management Inc. for a total of $25.1 million. This transaction represents a 43% appreciation in value since the property's last sale in 2019.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $25,100,000
  • Square Footage: 183,877
  • Purchase Price per Square Foot: $137
  • Address: 1700 Sand Lake Road, Orlando, Florida
  • Market: Orlando

Jim Michalak and Jeff Berkezchuk, representing Core Investment Management, facilitated the transaction as the buyer's brokers.

Core Investment Management plans to make improvements to Orlando Square and enhance its tenant mix.

Players

Jim Michalak
Plaza Advisors
Jim Michalak
6 deals$83.6M volume(813) 220-5342
BROKER
Jeff Berkezchuk
Plaza Advisors
Jeff Berkezchuk
5 deals$61.6M volume(813) 892-7817
BROKER
CM
Core Investment Management
BUYER
Apollo Global
Apollo Global
SELLER

Details

SOLD
IMAGE: Jim Michalak, Jeff Berkezchuk DATE: 06/12/2023 ADDRESS: 1700 Sand Lake Road MARKET: Orlando ASSET TYPE: Retail BUYER: Core Investment Management - Michael Lohmann SELLER: Apollo Global Management Inc. BROKERS: Jim Michalak , Jeff Berkezchuk SALE PRICE: $25,100,000 SF: 183,877 ~ PPSF: $137 NOTE: Core Investment Management has acquired Orlando Square, a shopping center in Orlando, Florida, for $25.1 million. The 183,877-square-foot property experienced a 43% appreciation in value since its last sale in 2019 and Core Investment Management plans to make improvements and enhance tenancy.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,338,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$89,174.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,986.81
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