Marcus & Millichap Brokers Sale Of New Balance Factory Store-Anchored Shopping Strip In Kissimmee

Marcus & Millichap announced the sale of Holiday Trail Plaza, a 24,635-square-foot shopping strip in Kissimmee.

The property sold for $6,750,000 million.

“This center contained a healthy mix of local tenants that complimented the anchor well. The move to central Florida for the New Jersey buyers was emblematic of a trend we see more and more, with capital migrating into the state from the Northeast,” said Tim Giambrone, senior vice president investments. “The marketing produced multiple compelling offers from qualified prospects in a very competitive campaign which allowed the seller to close the transaction without any price adjustments.”

Giambrone had the exclusive listing to market the property on behalf of the seller, a local private investor. The buyer, a private investor, was also procured by Giambrone.

Holiday Trail Plaza is located at 5877 W Irlo Bronson Memorial Hwy, which is 1.5 miles from Walt Disney World Corporate Offices and minutes from Disney World Parks & Resorts, SeaWorld, Universal Studios, ESPN Wide World of Sports, and other major attractions. Built in 1998, the fully leased 2.12-acre strip center is situated parallel to a primary retail corridor and is anchored by a New Balance Factory Store among two other tenants.