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| 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.
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| 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.
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 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.
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| Brad Peterson |
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.
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| Whitaker Leonhardt |
“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:
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