Grocery-Anchored Casselberry Center Trades For $40M

A Publix-anchored shopping center in Seminole County has sold for $40.3 million.

The Site Center sold the Casselberry Commons retail center to JBL Asset Management.

The 248,683-square-foot shopping center sits on about 20 acres at the northwest corner of Semoran Boulevard/State Road 436 and Howell Branch Road.

Anchored by a 47,317-square-foot Publix grocery store, the center includes national tenants such as Burlington, T.J. Maxx, Five Below and Firehouse Subs.

The property was 90% leased at the time of sale. 11 vacant spaces available for lease, ranging from 600 to 7,930 square feet in size. The Orlando Business Journal reports two out-parcel buildings — Metro Diner and LensCrafters — are part of the traded property. Some others, including Burger King, Arby’s, Starbucks, Pollo Tropical, Dunk’n and Chase Bank, have other owners.

The property last sold for $17.4 million in 1999 to Inland Retail Real Estate Trust, which was later acquired by Site Centers.

Source:  Connect CRE