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| The Grove at Winter Park, a 112,351-square-foot retail center at 4270 Aloma Avenue anchored by a 24 Hour Fitness in the affluent Winter Park suburb of Orlando, FL |
ORLANDO, FL, May 28, 2019 – Holliday Fenoglio Fowler,
L.P. (HFF) announces the $18.075 million sale of The Grove at Winter Park at 4270 Aloma Avenue a 112,351-square-foot retail center anchored by a 24 Hour Fitness in the
affluent Winter Park suburb of Orlando, Florida.
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| Brad Peterson |
HFF marketed the property on behalf of the seller, Consolidated-Tomoka
Land Co. TriOut Advisory Group purchased the center.
In addition to 24 Hour Fitness, The Grove at Winter Park is home to Pet
Supplies Plus, My Salon Suites, Twisted Root Burger Co., Quickly Boba and
Babyland Day Care.
The center was
completed in 1985 and underwent significant renovations to upgrade and
modernize it in 2018 with distinctive design elements, including an extensive
and high-end façade renovation, parking lot improvements, signage and
landscaping.
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| Whitaker Leonhardt |
The HFF investment advisory team representing the seller included senior
managing director Brad Peterson, senior director Whitaker Leonhardt,
director Michael Brewster and associate Ryan Stoffer.
“The Grove at Winter at Winter Park represents a tremendous turnaround
story over the course of the seller’s ownership,” Peterson said.
“The addition of 24 Hour Fitness spurred a total renovation
of the center, and given the leasing trajectory, The Grove at Winter Park is
now well positioned to continue its successful run as a valuable community
shopping center in the heart of a thriving Winter Park submarket.”
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| Michael Brewster |
HFF recently announced the closing of five other Orlando-area retail
centers, Millenia Plaza, Village Shoppes at Altamonte, Marketplace at Seminole Towne Center, The Fountains at Bay Hill and International Drive Value Center, along
with the sale and financing of The Shoppes of Lake Mary last
spring.
About Consolidated Tomoka Land Co.
Consolidated-Tomoka Land Co. is a Florida-based publicly traded real
estate company, which owns a portfolio of income investments in diversified
markets in the United States including approximately 2.4 million square feet of
income properties, as well as approximately 5,400 acres of land in the Daytona
Beach area.
Visit https://www.ctlc.com to learn
more.
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| Ryan Stoffer |
TriOut Advisory is a multi-faceted real estate company. TA has
offices in Nashville and Miami, and, together with its partners and affiliates,
they own and manage 10 properties with more than 500,000 square feet of both
office and retail.
TA’s purchasing criteria being in the southeast part of the U.S. and acquiring $25 million to $30 million per quarter has allowed the company to build a strong footprint in this geographical area.
TA’s purchasing criteria being in the southeast part of the U.S. and acquiring $25 million to $30 million per quarter has allowed the company to build a strong footprint in this geographical area.
CONTACTS:
BRAD PETERSON
FL Lic. #BK3162030
HFF Senior Managing Director
(407) 745-3900
WHITAKER LEONHARDT
FL Lic. #SL3221137
HFF Senior Director
(407) 745-3900
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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