PLAZA ADVISORS ANNOUNCES THE SALE OF MILLENIA CROSSING IN ORLANDO, FLORIDA

August 21, 2024

Plaza Advisors is pleased to announce the sale of the Millenia Crossing shopping center. The asset is located in Orlando and is situated adjacent to the Mall at Millenia, one of the country’s premier malls. The 100,385 square foot retail plaza was 96% occupied and is anchored by Nordstrom Rack, Party City and Modani Furniture. Notable inline tenants include Milan Laser Hair Removal, Destination XL, The Vitamin Shoppe and Relax the Back.

The Plaza Advisors team led by Jim Michalak and Jeff Berkezchuk represented the seller. The buyer is a publicly traded REIT that owns and operates a portfolio of high-quality retail assets in higher growth markets in the U.S.

“The irreplaceable location within the Millenia trade area and next to the high-performing Mall at Millenia resulted in a great deal of interest,” Berkezchuk said. “Millenia Crossing was attractive for a variety of reasons including its prime location, institutional quality improvements and strong in-place tenancy and cash flow.”

Plaza Advisors is a shopping center investment brokerage firm that specializes in the disposition of retail properties throughout the state of Florida. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks.