Marcus & Millichap Arranges $12.6 Million Sale of Two Retail Properties in Metro Orlando

Orlando and Kissimmee, Fla.— Marcus & Millichap has arranged the sale of two retail properties, Edgewood Isle Plaza in Orlando and Sunrise Plaza in Kissimmee. The total sales price for both properties was $12.6 million. Edgewood Isle Plaza is a 78,647-square-foot retail property. Salim Valiani of Marcus & Millichap represented the buyer, Orlando-based Fourth Atlantic Property Investments. The seller was an entity known as DCP Edgewood Isle LLLP. The sales price was $7.5 million. Built in 1964, Edgewood Isle Plaza was approximately 30 percent occupied at the time of sale to tenants including Dollar Tree, Pizza Hut and Pinch-a-Penny. Located at 5601 S. Orange Ave. on a 6.3-acre site, the plaza is situated within six miles of Universal Orlando Resort, Mall at Millenia, Orlando International Airport and the downtown Orlando area. Sunrise Plaza, a 24,088-square-foot retail plaza, was sold for $5.1 million. Salim Valiani of Marcus & Millichap also represented the seller, an entity known as Sunrise Plaza Enterprise Inc. The buyer was Paradise Apartments. Located at 4137 W Vine St. on 2.9-acres of land, the property is situated 10.1 miles from the Walt Disney World Resort and 22.6 miles from downtown Orlando. Built in 1992, the Sunrise Plaza property was 95 percent occupied at the time of sale to tenants including Geico, Primo Fine Wines and Downtown Bicycles.

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