Florida

ALTAMONTE SPRINGS, FLA. — Denver-based Sagard Real Estate (formerly EverWest Real Estate Investors) has sold Marketplace at Altamonte, a 335,995-square-foot shopping center located in Altamonte, roughly 16 miles outside Orlando. According to the Orlando Business Journal, an entity associated with Centro Property Management LLC purchased the property for $28.9 million from Sagard’s core equity fund. The center was 55 percent occupied at the time of sale to tenants including Burlington, Ross Dress for Less and Total Wine & More. Sagard originally acquired the center in 2005.

ALTAMONTE SPRINGS, FLA. — A joint venture between Cohen & Steers Income Opportunities REIT Inc. and Phillips Edison & Co. has purchased Oak Grove Shoppes, a Publix-anchored shopping center located in the Orlando suburb of Altamonte Springs. The seller and sales price were not disclosed. The 142,000-square-foot property was redeveloped in 2023 and features a 48,000-square-foot Publix grocery store that opened in 2023, as well as a new Marshalls store. The center was 91 percent leased at the time of sale. Oak Grove Shoppes is the second acquisition for the Cohen & Steers-Phillips Edison joint venture, which is targeting $300 million in grocery-anchored shopping center acquisitions. As part of the joint venture arrangement, Cohen & Steers owns an 80 percent stake of the center while Phillips Edison owns the minority stake and handles operations.