Saturday, July 7, 2018

HFF announces $19.8 million sale and $13.65 million financing of Orlando, FL retail center

Rebecca Van Reken

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $19.8 million sale and the $13.65 million acquisition financing of Alafaya Commons, a 130,811-square-foot retail center anchored by Academy Sports + Outdoors and Youfit Health Clubs in Orlando, Florida.
Gregg Shapiro

The HFF team marketed the property on behalf of the seller, Regency Centers.  LBX Investments purchased the asset free and clear of existing debt.  Additionally, the HFF team worked on behalf of the new owner to place the five-year, fixed-rate loan with First Florida Integrity Bank.

Alafaya Commons is situated on 18.8 acres at 11792-11970 East Colonial Drive at the ‘main and main’, 13-lane signalized intersection of East Colonial Drive and Alafaya Trail, which, at 94,500 vehicles per day, is one of the most heavily traveled intersections in east Orlando.  

The center is one mile south of Central Florida Research Park’s 9,500 employees and two miles south of the University of Central Florida, the largest university in the U.S. with more than 66,000 students.  

Brad Peterson
Alafaya Commons was completed in 1987 and most recently renovated in 2015.  In addition to the Academy Sports + Outdoors and Youfit Health Clubs anchors, the 89.7-percent-leased center is also home to H&R Block, GNC,Goodfellas Pizza, Orange County Health and Family, Sunset Christian Preparatory and Junior Colombian Burger along with outparcels occupied by Taco Bell, Amscot, and Chuan Lu Garden.

The HFF investment advisory and debt teams representing the seller included senior managing director Brad Peterson and senior director Whitaker Leonhardt.

The HFF debt placement team representing the borrower consisted of managing directors Rebecca Van Reken and Gregg Shapiro.

Whitaker Leonhardt
“Alafaya Commons is located at one of the most vibrant intersections in all of Orlando with 94,500 cars per day,” Peterson said.  

“The area has seen explosive growth driven by the University of Central Florida, STEM employment and residential development, and is a ‘must have’ for national retailers.  

"Both the seller, Regency Centers, and LBX Investments were outstanding to work with on this assignment.”

“We were pleased to source an acquisition loan for LBX that met all of their financing objectives, thanks to the creativity of First Florida Integrity and the strong retail fundamentals in this trade area,” Van Reken added.

For more information, please contact:

Olivia Hennessey
Public Relations Specialist
9 Greenway Plaza Suite 700
T: 713-852-3403

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