SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Shoppes at Village Square in Longwood, Fla., which is part of the Orlando–Kissimmee–Sanford MSA. The retail center consists of 61,200 square feet and is situated on 5.05 acres of land. It is roughly 88 percent occupied by tenants such as O’Reilly Auto Parts, Sherwin-Williams, and CrossFit Evolution. Shoppes at Village Square is located at 851 E State Road 434 with a traffic count of 27,500 vehicles daily. The center is positioned near the intersection of E State Road 434 and S Wayman Street, which is slightly west of US Highway 1792. The seller, HH Times Square, LLC, sold the property for $6.3 million on April 5, 2019 to Shoppes at Village Square, LLC.
“Shoppes at Village Square offered a unique combination of corporate and local tenants on NNN leases with an existing upside component,” said Kevin Yaryan, senior vice president of SRS’ Investment Properties Group. “These types of opportunities are few and far between in this market, and present excellent potential for savvy value-add investors.”
Kevin Yaryan, senior vice president of SRS’ Investment Properties Group in the Orlando office represented the seller in the transaction. The buyer was represented by Trey Gravenstein at First Capital Property Group.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.