Orlando Retail Center Sells For $25.1 Million

Colliers | U.S. announced the sale of West Colonial Oaks, a 161,333-square-foot grocery-anchored retail center, to a Dallas based family office for $25.1 million.

The property is located at 7150 W. Colonial Drive in Orlando, approximately 6 miles west of downtown, at the signalized intersection of West Colonial Drive and Hiawassee Road.

Colliers’ Brad Peterson and Whitaker Leonhardt represented the seller, Newport Capital Partners, in the transaction.

“West Colonial Oaks exemplifies the type of durable, necessity-based retail that continues to attract strong investor demand,” said Leonhardt, executive vice president at Colliers. “The combination of grocery anchorage, long-tenured national tenants and multiple layers of embedded upside made this asset particularly compelling.”

The center is anchored by SuperFresh Market, a brand of Key Food Stores, which operates more than 320 locations across nine states and recently executed a long-term lease extension at the property. West Colonial Oaks is also shadow-anchored by The Home Depot, which ranks No. 65 of 159 Florida locations for foot traffic, according to Placer.ai. Additional anchors include Ollie’s, Family Dollar and Crazy Buffet, all of which feature long operating histories at the center and generate strong sales on relatively low rents, creating embedded rent upside.

Recent leasing momentum includes a new long-term lease with TesoLife, a fast-growing Japanese-inspired casual fashion department store with 30 locations nationwide. The West Colonial Oaks location marks TesoLife’s first Florida store, which opened in November 2025, and was selected for its proximity to Florida’s first and largest HMart, located approximately 0.25 miles west of the center. The transaction also includes one of the longest-tenured Olive Garden locations in the brand’s portfolio, as well as a newly executed 15-year lease with 7 Brew.

The property was 95% occupied at the time of the sale.

West Colonial Oaks is positioned in a dense, infill trade area with approximately 124,300 residents within 3 miles. The property benefits from exceptional visibility and access at a heavily trafficked intersection with 71,500 combined vehicles per day, adjacent to the State Road 408 interchange, which carries an additional 97,000 vehicles per day.

“This sale underscores the depth of capital targeting well-located grocery-anchored retail in Central Florida,” said Peterson, vice chair at Colliers. “West Colonial Oaks offers long-term relevance in one of Orlando’s most established retail corridors.”

The seller, Newport Capital Partners, is a Chicago-based, vertically integrated real estate investment manager and operator focused exclusively on everyday essential retail. Founded in 2004, Newport has remained committed to a highly specialized strategy centered on grocery-anchored and neighborhood shopping centers located in dense, high-barrier-to-entry markets across the United States.