Miami-based Limestone Asset Management, via a joint venture with Orion Real Estate Group, closed on a 1.74-acre Wawa property in the Orlando area for $4.76 million on Jan. 14.
The property is located at 4416 Hoffner Ave. in Belle Isle.
Patrick Nutt with SRS National Net Lease Group represented the seller, Limestone Asset Management and Orion Real Estate Group. SRS National Net Lease Group also represented the buyer, Good Vibes Realty Two LLC. The buyer is paying cash for the property.
This Wawa is strategically positioned near the signalized, hard corner intersection of S. Conway Road and Hoffner Avenue, averaging 61,000 vehicles passing by daily. Hoffner Avenue is a primary retail and commuter thoroughfare serving the Orlando trade area. More than 236,000 residents and 152,000 employers support the 5-mile trade area.
This sale completes the project for Limestone and Orion, following the redevelopment of a Winn-Dixie into Crunch Fitness and the addition of the Wawa.
“We are very pleased to have sold this Wawa property, which we developed in 2018, in the Orlando area,” said Ibrahim Al-Rashid, chairman of Limestone Asset Management. “Orlando continues to be one of the most visited cities in the world, and this property benefits from significant street frontage and multiple points of access for customers.”
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