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| Center of Winter Park, 501 North Orlando Avenue, Winter Park, FL |
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| Brad Peterson |
ORLANDO, FL, Aug. 6, 2018 – Holliday
Fenoglio Fowler, L.P. (HFF) announces the $72.75 million of Center of Winter
Park, a 244,977-square-foot community center located in the Orlando-area
community of Winter Park, Florida.
The HFF team marketed the property on behalf of
the seller, Sterling Organization. AEW
Capital Management, L.P., on behalf of one of its separate account
clients, purchased the asset free and clear of existing debt.
Center of Winter Park is at 501 North Orlando
Avenue and positioned at the most dominant retail intersection catering to
Winter Park, which, with average incomes exceeding $127,000 annually, is the
most affluent community in north Orlando.
Additionally, the area is a grocery hub with
three popular brands within 500 yards of the property.
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| Whitaker Leonhardt |
With a mix of national and regional tenants, the
97-percent-leased Center of Winter Park is home to Ross Dress for Less,
HomeGoods, Marshalls, Petco, DSW, LA Fitness, Five Below, Olive Garden, Great
Clips, The UPS Store, George’s Gourmet Cookies, Office Depot, Michaels and Zoës
Kitchen.
Additionally, there is a parcel acquisition and redevelopment
opportunity.
The HFF investment advisory team representing
the seller included senior managing director Brad Peterson, senior
director Whitaker Leonhardt and associate Michael Brewster.
“This is one of the most special assignments of
my career,” Peterson said. “The Center of Winter Park is located near my
house, so I shop it weekly, drive past it daily for work and have had the
privilege of witnessing one of the most successful shopping center developments
in the U.S. over the past five years, right here in my own backyard. The
Sterling Organization really hit this one out of the park!”
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| Michael Brewster |
“I cannot be more pleased to also see AEW
Capital Management as the new owner,” Peterson continued. “Over the past
two decades, I have seen dozens of high-profile shopping centers around the
U.S. that AEW has meticulously cared for, merchandised and taken to the next
level.
"As a resident and frequent shopper of the
center, I am really excited to see them sprinkle some more of their ‘magic,’
which will truly improve the quality of life for all the residents of our
Winter Park community.”
“The Center of Winter Park is one of the highest
quality centers brought to market in the Southeast in 2018,” Leonhardt
added. “It is located at the most dominant retail intersection north of
downtown Orlando, nestled between high-volume Whole Foods, Publix and Trader
Joe’s stores, has successful category leading anchor tenants and still has a
tremendous amount of upside and NOI growth potential. It truly checks all
the boxes investors are seeking today.”
For more information, please
contact
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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