Phillips Edison has acquired Alafaya Square, a grocery-anchored neighborhood shopping center in the Orlando metropolitan area, for $69.1 million. The 168,532-square-foot retail property is located at 81 Alafaya Woods Blvd. in Oviedo, Florida, and is positioned within Seminole County. The center spans approximately 21.1 acres and is reported to be 96% occupied at the time of sale.
The property is anchored by Publix, giving the center a dominant grocery component that supports regular foot traffic and recurring visits from area residents. Beyond its anchor tenant, Alafaya Square features a lineup of national and regional retailers and service providers. Tenants include Planet Fitness, IHOP, Keller Williams, Froggers Grill & Bar and Arcade Monsters, among others, providing a mix of food, fitness, entertainment and professional services for the surrounding community.
The shopping center benefits from direct access to Alafaya Trail, a key local thoroughfare, and is located near State Road 434 and State Road 417. This network of nearby roadways enhances regional connectivity and helps support customer draw from across the broader Orlando area as well as from neighborhoods within Seminole County.
JLL represented the seller, a joint venture between MCB Real Estate and an institutional investor, in the transaction. JLL Capital Markets led the sales assignment, with a team consisting of Danny Finkle and Jorge Portela, along with Evan Lahr. According to JLL, the transaction marks the largest single-asset retail sale in Seminole County history, underscoring the significance of the deal within the local investment sales market.
Alafaya Square’s grocery-anchored positioning, high occupancy level and established tenant roster highlight its role as a neighborhood retail hub serving the Oviedo community and the wider Orlando metropolitan area. The record-setting sale provides a benchmark for institutional-grade retail center transactions in Seminole County and reflects continued investor interest in grocery-anchored neighborhood shopping centers.
