SITE Centers has sold the Lee Vista Promenade in Orlando for $68.5 million. Dundas Real Estate Investments acquired the 313,000-square-foot open-air shopping mall.
On 74.2 acres, this property includes three additional development parcels totaling 18.1 acres. Situated at the southeast corner of Semoran Boulevard (SR-436) and Lee Vista Boulevard, Lee Vista Promenade was 95.5% occupied at the time of the sale.
Brad Peterson, Whitaker Leonhardt and Eric AmRhein of Colliers represented SITE Centers, the seller. Donald Jennewein of Colliers also represented buyer Dundas Real Estate Investments in arranging the financing with City National Bank. “Despite interest rate volatility, investor demand for high-quality retail remains robust, fueled by strong population growth and solid retail fundamentals in the region,” Peterson said.
Built in 2016, Lee Vista Promenade boasts a diverse lineup of leading national tenants, including Academy Sports, Epic Theaters, Ross Dress for Less, HomeGoods, Michaels, Bealls Outlet, Petco, Ulta, Five Below and Famous Footwear.