Crosslands Shopping Center, a joint development of Tupperware Brands and O’Connor Capital Partners, has been sold for $121 million two years after opening in Kissimmee, Florida. The Hampshire Companies, on behalf of a foreign investor, picked up the 529,300 sqf, grocery-anchored retail center for just under $229 per sqf. Located at 1000 West Osceola Parkway, the property boasts national tenants Fresh Market, Marshall’s Home Goods, Hobby Lobby, Forever 21, Burger Fi, Outback Steakhouse, PetSmart and Starbucks. O’Connor Capital Partners has been retained to provide exclusive leasing and property management for the asset which is currently 98 percent leased.
“The Hampshire Companies has been in the business of developing, managing and owning grocery-anchored shopping centers for over 60 years,” said Robert Schmitt, a principal of The Hampshire Companies. “Orlando and its submarkets have been incredibly hot, with a burgeoning tech-sector, massive improvements to its infrastructure and investments by the Universal and Walt Disney resorts resulting in a sharp increase in tourism to the already most-visited city in America. The Crosslands Shopping Center has experienced immediate success and is positioned to be the premier shopping destination in Kissimmee for a long time. We are confident that this addition to our portfolio will serve our investors well.”
