West Second Street Associates has purchased Premium Shoppes at Lake Buena Vista in Orlando for $8.5m. The property offers 26,148 sq ft on 5.8 acres and is currently fully leased to Carrabba’s Italian Grill, Panera Bread, Verizon Wireless, Escape Room and Tropical Smoothie Café. JLL marketed the property on behalf of the seller, Intram Investments, and arranged a $5.6m five-year, fixed-rate acquisition loan with Ameris Bank.
“The acquisition of this asset is an excellent opportunity for West Second Street Associates to continue to expand our presence in Florida,” said Troy Farah, WSSA founder and managing partner. “The opportunity to acquire a retail property in a major Florida MSA with such high visibility and proximity to Walt Disney World Resort appealed to us, and we look forward to Premium Shoppes at Lake Buena Vista’s continued success as a valuable retail center in the heart of a thriving tourist destination.”
