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| Rialto retail-office center, 7335 Sand Lake Road, South Orlando, FL |
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| Brad Peterson |
ORLANDO, FL – HFF announced it has closed the sale of Rialto,
a 105,275-square-foot retail and office center in Orlando, Florida.
HFF
marketed the property on behalf of the seller, The Wilder Companies. Orion Venture IX Rialto, LLC, an affiliate
of Orion Investment, purchased the asset free and clear of existing financing.
Rialto is located at 7335 Sand Lake Road along Orlando’s “Restaurant
Row”, a world renowned one-mile stretch of retail and restaurants about 10
miles southwest of downtown Orlando.
The property has
58,519 square feet of fully leased retail space and 46,756 square feet of
office space that is 83 percent occupied.
Major tenants at the center include Newlin Law, Ocean Prime and Bar
Louie.
The
HFF investment sales team representing the seller was led by senior managing
directors Brad Peterson and Coleman Benedict and analyst Whitaker
Leonhardt.
“Rialto got a strong reception from the investment community
because it is located on the most prestigious and thriving one-mile stretch in
the Orlando MSA, Sand Lake Road’s ‘Restaurant Row’,” commented Peterson.
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| Coleman Benedict |
Peterson added, “Orlando’s Restaurant Row, is a mecca for
the highest demographic residents in Central Florida, the first stop for
business travelers and large corporate groups attending conventions at the
nearby Orange County Convention Center, and tourists visiting the nearby theme
parks.
“All of the other properties along Restaurant Row are
institutionally-owned assets and command the highest rental rates in the
Orlando MSA.”
The
Wilder Companies is a Boston-based real estate firm specializing in the
positioning of retail properties with proficiency in specialty centers,
mixed-use developments, community centers, urban properties, and regional and
super-regional malls.
Privately-held and owner managed, Wilder's mission has been
and continues to be able to create vibrant shopping places that meet and exceed
the expectations of customers, retailers and investors.
The company currently has a diverse portfolio of properties
throughout the East Coast.
www.wilderco.com
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| Whitaker Leonhardt |
Established in 1978, Orion Investment
and Management is a full-service commercial real estate firm with offices in
Miami and Orlando, in which Orion provides consulting services to national and
international buyers of commercial real estate.
With a fully
integrated and comprehensive platform, Orion has handled more than $1 billion
in transactions and manages a portfolio exceeding $400 million.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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