CBRE Arranges Sale Of Old Town Kissimmee Entertainment District
CBRE has arranged the sale of Old Town Kissimmee, one of Central Florida’s most recognizable retail and entertainment destinations, to Emma VIII, LLC.
CBRE’s Daniel Baker, Rick Warner and Chip Warner represented the seller in the transaction, which closed September 16.
Old Town Kissimmee is a landmark property along the U.S. 192 tourism corridor that combines retail, dining and entertainment offerings in a walkable, early 20th century downtown-inspired setting. Developed in 1986, the destination is located adjacent to Fun Spot America Kissimmee and is known for its recurring classic car events, live entertainment and iconic Ferris wheel featuring custom light displays. The property has undergone significant renovations and expansion in recent years, has historically maintained high tenant demand and was approximately 95% occupied at the time of sale.
“Old Town is one of Central Florida’s most recognizable entertainment destinations, with a proven ability to attract both tourists and local residents,” said Baker, First Vice President with CBRE. “Its long operating history, strong tenant demand and continued investment by ownership created significant interest from investors seeking a well-established asset with a differentiated position along the U.S. 192 tourism corridor.”
The property sits on approximately 23.6 acres at 5770 W Irlo Bronson Memorial Highway and features a diverse mix of retailers, restaurants and entertainment uses, including well-known national and regional brands. Located near other major Orlando attractions, Old Town benefits from significant tourism traffic along U.S. 192.
The buyer, an affiliate of Orlando-based RS Equity Services, plans to invest in property enhancements and programming initiatives to strengthen Old Town’s position as a premier entertainment destination while maintaining the character and traditions that have made it a Central Florida landmark for nearly four decades.
Laura Walda and Shawn Rader of Lowndes served as legal counsel to the seller. John Di Masi of Di Masi Burton PA served as legal counsel to the buyer. Mac Downing of Largo Capital provided mortgage financing through ConnectOne Bank.
Key Facts
- Property: Old Town Kissimmee
- Location: 5770 W Irlo Bronson Memorial Highway, Kissimmee, Florida
- Asset Type: Retail and entertainment destination
- Transaction Type: Sale; closed September 16
- Buyer: Emma VIII, LLC, an affiliate of RS Equity Services
- Size: Approximately 23.6 acres
- Financing: Mortgage financing through ConnectOne Bank, arranged by Mac Downing of Largo Capital
- Brokers: Daniel Baker, Rick Warner and Chip Warner of CBRE represented the seller
- Other Notable Details: Approximately 95% occupied at the time of sale; buyer plans property enhancements and new programming.