Updated Grocery-Anchored Retail Center Sold

By Balazs Szekely, Associate EditorA South American private investment group has recently acquired a grocery-anchored retail center in a densely populated residential area of Orlando, Fla. The Shopping Center Group facilitated the sale of the 133,400-square foot Mariner’s Village on behalf of the seller, an affiliate of Madison Marquette. The transaction worth $15.5 million took place on July 31 and the identity of the buyer was not disclosed. The Shopping Center Group’s team of Anthony Blanco, Lenard Williams and Mallory Ham marketed the property.

Located at 4568 E Michigan St, approximately three miles southeast of downtown Orlando and less than five miles from the Orlando International Airport, Mariner’s Village is anchored by Winn Dixie Supermarket, Walgreens and LA Fitness. Other tenants include AT&T and Firehouse Subs as well as a mix of restaurants, convenience and necessity retail goods and services.Mariner’s Village was built in 1986 and renovated in 2004—Over the past 12 months, a $930,000 comprehensive capital improvement program was also implemented to update parking lot lighting, roofing, landscaping, sidewalks and monument signage. The property was 92% leased at the time of the acquisition with approximately 10,700 square feet of small shop space vacant.

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