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MIAMI— Florida-based Orion Real Estate Group has acquired a net lease retail portfolio located in Florida, Texas and Illinois for $50 million. An undisclosed family office sold the portfolio, which totals 94,000 square feet across 12 properties.
Tenants at the portfolio — which include 11 single-tenant properties and two two-tenant properties — include banks, a fitness center, pharmacy, urgent care facility and a quick-service restaurant. The portfolio has 6.5 years of weighted average remaining lease term.
Alex Sharrin, Jeff Cicurel, Eric Osika and Noel O’Donnell of JLL represented the seller in the transaction.