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Mount Dora, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $12.4 million sale of Tri-Cities Shopping Plaza, a 71,172-square-foot shopping center located in Mount Dora, roughly 30 miles northwest of downtown Orlando. Kirk Olson and Drew Kristol of IPA represented the seller, Davie, Florida-based Ross Realty Investments, and procured the buyer, a Florida-based investor.
T.J. Maxx, Ross Dress for Less and Dollar Tree anchor Tri-Cities Shopping Plaza, which was fully leased at the time of sale. Additional tenants include VIPcare Mount Dora, Victoria’s Hallmark, Bricks & Minifigs and Papa John’s Pizza. The property is also shadow anchored by Hobby Lobby.