Published on Jun 10. 2022
ORLANDO, Dec. 22, 2021 – JLL Capital Markets announced today that it has closed the $28.8 million sale of Williamsburg Downs Shopping Center, a fully leased, 109,246-square-foot neighborhood shopping center anchored by Publix in Orlando, Florida.
JLL arranged the sale of the property on behalf of the seller, V3 Capital Group LLC. An affiliate of Core Investment Management acquired the asset.
The 100-percent-leased Williamsburg Downs Shopping Center is anchored by a long-tenured Publix, the No. 1 grocer in Florida by market share. Publix has been at the property for nearly 40 years and recommitted to the shopping center by building a new store and signing a long-term lease in 2018. The center also houses a diverse mix of service-oriented and restaurant tenants, including a planned Dunkin’ outparcel, helping to drive in-person visits and promote cross shopping between tenants.
Located at 5350 Central Florida Pkwy. in the southern part of Orlando, Williamsburg Downs Shopping Center is at the signalized intersection of Central Florida Parkway and Gateway Avenue. The property is surrounded by a dense, high-growth residential population that includes over 55,000 residents within a three-mile radius earning an average annual household income of nearly $84,000 and with a projected population growth rate of nearly 17 percent. Additionally, the property benefits greatly from its location within the booming Orlando tourism corridor, as it is less than half a mile east of SeaWorld Orlando, 1.5 miles southeast of the Orange County Convention Center and less than two miles south of Universal’s new planned theme park, Epic Universe.
The JLL Capital Markets team that represented the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt, Director Michael Brewster and Associate Tommy Isola.
“We are thrilled to have facilitated this off-market transaction for Williamsburg Downs,” Peterson said. “This property is truly a unique, generational asset with tremendous upside. Epic Universe and the resulting profound ripple effect on the immediately area squarely puts Williamsburg Downs in the category of the most elite of shopping centers in the metro-Orlando area.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Headquartered in Apopka, Florida, V3 Capital Group is a boutique real estate firm with a focus on commercial real estate and senior housing investment activities, as well as operating a real estate services platform throughout the state of Florida. V3 Capital targets strategic real estate investments, acquisitions, and developments across multiple product types including retail, senior housing, office and industrial. Real estate services include property management, brokerage, development/construction, management and capital procurement.
CORE is a private investor of primarily well located stabilized and value add retail and office properties located in primary and secondary MSA markets of Florida and the southeastern United States. CORE and its principals own and actively manage over 2 million square feet of properties throughout the region and target experience-oriented properties with existing cash flow and upside potential through active management.
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