ORLANDO, FL. – The Commercial Group at Stirling Sotheby’s International Realty recently negotiated the $979,000 sale of the Lakeridge Commons (bottom left photo) retail strip center on U.S. 27 north of Clermont to a Chinese Consortium. Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said International Commercial Investment Specialist Anthony Bordonaro (top right photo) negotiated the sale representing the buyer, Shiang Suk Chiang.
Lakeridge Commons includes 18 acres with two retail buildings that total 27,000 square feet of space and approvals to build four additional retail buildings that total 45,000 square feet.
Bordonaro said the buyer’s earlier offer of $3 million for the property was rejected by the developers.
When the developers later defaulted on their development loan, the property was taken over by American First Bank, which was subsequently taken over by the FDIC and merged with TD Bank N.A.
TD Bank N.A. entered the property for auction, but the sale Bordonaro negotiated preempted the auction offering.
Lakeridge Commons is the second major real estate transaction Stirling Sotheby’s International Realty has negotiated in the last 30 days with Chinese buyers.
Earlier this summer, Stirling Sotheby’s negotiated the sale of the $3.3 million Joey Fantone estate on the Butler Chain of Lakes near Windermere to a Chinese family.
For more information, contact:
Anthony Bordonara, Sales Associate, Stirling Commercial Group 407-581-5550
Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-588-1260;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
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