Jeffrey S. Edison Buys The Shoppes Of Lake Mary Retail For $26.1M

The Shoppes of Lake Mary is a 74,234-square-foot retail property located at 4215 West Lake Mary Boulevard in Lake Mary. The asset was sold for $26.1 million in a deal involving the buyer Jeffrey S. Edison from Phillips Edison & Co. Inc. and the seller Mike Sales from Nuveen Real Estate. The property, situated in a prime retail trade area within the Orlando metro, boasts a 97% occupancy rate. It is shadow-anchored by Publix Super Market and Target, making it an attractive investment opportunity.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $26,100,000
• Market: Lake Mary
• Acres: 10
• Square Footage: 74,234
• Price per Square Foot: $352

Adam Feinstein, Mark Gilbert, and Mitchell Halpern from Cushman & Wakefield acted as the brokers in this transaction. The sale of The Shoppes of Lake Mary to Lake Mary Station LLC, an entity related to Phillips Edison & Co. Inc., attracted significant investor interest due to its strategic location and high occupancy rate. The involvement of these key individuals and companies underscores the robust nature of the real estate market in the area.