Springs Plaza in Longwood, FL Sells for $19.6 million

 

Christie Alexander

LONGWOOD, FL -- CrossMarc Services, LLC of Winter Park and Baltimore-based MCB Real Estate purchased Springs Plaza in Longwood for $19,600,000.

Springs Plaza, a 64,753 square foot neighborhood
shopping center on S.R. 434 at the intersection
of Wekiva Springs Road in Longwood, FL

CBRE’s National Retail Partners Team represented the seller of the 64,753 square foot neighborhood shopping center on S.R. 434 at the intersection of Wekiva Springs Road in Longwood.

Casey Rosen 

Winter Park-based CrossMarc Services acquired the asset in partnership with an affiliate of Baltimore-based MCB Real Estate and their equity partner Faison Enterprises. 

 

CBRE Executive Vice Presidents Casey Rosen and Dennis Carson provided exclusive representation of the seller, an affiliate of Apollo Global Management of New York, N.Y 

 

“We are excited to add this iconic property to our portfolio,” said CrossMarc Senior Vice President Christie Alexander.  The plaza, built in 1979 and renovated in 2017, was 80 percent leased at the time of the sale.

Dennis Carson

Located less than a mile from the Interstate 4/S.R. 434 interchange, the high-profile center is shadow anchored by a 58,000 square foot Publix grocery story and freestanding Publix liquor store serving an estimated one million customers annually.   

 

Within 30 days prior to this transaction CrossMarc also closed on the acquisition of Glenbrook Commons, a 64,707 square foot retail center in Clermont from Continental Realty for $9,400,000. 

 

“CrossMarc Services is on a path to purchase more than $60,000,000 in retail properties by the end of this year,” said President John Crossman.

 

CrossMarc Services, based in Winter Park, FL, is a real estate investment and advisory firm. Clientele ranges from private clients and corporations to large institutional companies.

 John Crossman

MCB Real Estate, headquartered in Baltimore, is a privately-held, institutionally-capitalized commercial real estate development and investment firm.  MCB invests across industrial, retail office, multi-family and mixed-use assets.

 

Faison Enterprises, Inc. is a 50-year-old privately held investment firm with a diversified portfolio that includes retail, commercial and residential project holdings. 

Founded by Henry J. Faison, the company has committed more than $3 billion in development, value add, and core real estate opportunities. 

 

 

 Contacts:

 

John Crossman, CCIM, CRX Founder / President, CrossMarc Services, LLC

407-341-3895 jcrossman@crossmarcservices.com

 

Beth Payan-Larry Vershel Communications 

beth@larryvershel.com

 

 www.cbre.us/nrp

 www.crossmarcservices.com

www.faison.com

www.mcbrealestate.com