Shoppes at Veranda Park sells for $3.15M in Orlando, FL

Challenge

Situated within the thriving Orlando, Florida, metropolitan area, the Shoppes at Veranda Park property boasted an enviable location. With a dense population of 286,536 within a 5-mile radius and a projected 2% growth through 2023, it was primed for success. The property, boasting ground floor retail space on a spacious 1.40± acre lot, was built in 2004. With full occupancy and a national tenant, Goodwill, in place, it presented a compelling investment. The tenant roster consisted of internet-resistant businesses. While such tenants can offer some stability, the evolving landscape of retail and the rise of e-commerce present ongoing challenges that require strategic management.

 

Strategy

Employing extensive marketing approach, we targeted active retail and mixed-use buyers. This resulted in numerous quality offers from buyers in Miami and New York. Ultimately, we identified a well-suited local investor for the property.

 

Result

Our efforts paid off when our relationship with the tenant provided valuable insights that convinced the buyer to proceed with the purchase. The buyer’s commitment to renovating the property reassured the tenant, hence leading to a lease renewal. This successful transaction underscores our dedication, market expertise, and understanding of both the property and tenant dynamics.

 

Disclaimer: This sale was not through Matthews Real Estate Investment Services™.