Two Major Florida Shopping Centers Sold in a $137.5 Million Deal

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August has proven to be a noteworthy month for real estate transactions in Florida’s retail sector. Following recent sales like Lee Vista Promenade for $68.5 million and 318 Lincoln for $13.6 million, two more prominent shopping centers have changed hands. Millenia Crossing and Lake Brandon Village are now part of a significant $137.5 million deal involving three shopping centers.

Lake Brandon Village

Spanning 102,000 square feet, Lake Brandon Village is home to a diverse array of retailers including Sprouts, PetSmart, Scandinavian Design Furniture, and DSW. Shadow-anchored by Lowe’s, the shopping center has garnered over 3,900 Google reviews with an average rating of 4.3 out of 5 stars. Patrons appreciate its wide range of stores, although some have noted traffic congestion.

Millenia Crossing

Located adjacent to the Mall of Millenia in Orlando, Millenia Crossing covers approximately 100,000 square feet. It features retailers like Nordstrom Rack, Party City, and The Vitamin Shoppe. With over 1,200 reviews, the center holds a high rating of 4.6 out of 5 stars.

The Recent Sale

Winter Park-based CTO Realty Growth has acquired Millenia Crossing, Lake Brandon Village, and a shopping center in North Carolina for a combined $137.5 million. This transaction reflects a continued interest in prime retail properties in Florida, highlighting the state's robust real estate market.

As these centers transition to new ownership, they will continue to serve their communities, providing shopping, dining, and entertainment options for residents and visitors alike.