IRVINE, Calif. – Nov. 9, 2015 – Auction.com, LLC, the nation’s leading online real estate marketplace, today announces the closing of the Vista Centre Shoppes, a 98,411-square-foot retail center in Orlando, Florida. A private South Florida buyer purchased the 13.9-acre asset, located down the street from Disney World, for $21.225 million.
An Atlanta-based private seller sold the property. Philip Kates, Adam Sklaver and Dean Lewis of Auction.com teamed with listing brokers Brad Peterson and Whitaker Leonhardt out of HFF’s Orlando office to sell the property. The buyer was represented by Michael Lapointe and Adam Greenberg of Newmark Grubb Knight Frank.
“The sale of Vista Centre Shoppes reinforces a continuing trend of private sellers entrusting their high-value assets to the Auction.com platform, where they can be sold quickly and efficiently,” said Auction.com Senior Vice President of Business Development Joe Cuomo. “This center was brought to Auction.com by the seller and listing broker HFF for increased marketing exposure and a date-certain, efficient process. The entire process took less than 60 days, including marketing, financing, escrow and closing. This highlights the flexibility of Auction.com in working with owners and brokers to execute in their desired time frame.”
The sale of Vista Centre Shoppes included a $215 per-square-foot price. The 1989-built center includes numerous eateries and shopping options and consists of seven total structures that were 89.4-percent occupied at time of purchase. The property is located at 8462 Palm Parkway near Interstate 4 and Florida SR 535, within walking distance of Disney World.
“This transaction is a testament to the red hot retail fundamentals in the Southeast,” Kates said. “Auction.com has been successful in major Southeast metros such as Orlando and Atlanta, where we have seen a lot of interest from buyers over the past several months.”
Auction.com, LLC, is the nation’s leading online real estate marketplace. Founded in 2007, the company has sold more than $34 billion in residential and commercial real estate assets. Auction.com has over 900 employees and headquarters in Irvine and Silicon Valley, California, as well as offices in key markets nationwide. Visit www.auction.com for more information.