Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company, has acquired Lakeside Village in Lakeland, Florida for $78 million from DRA Advisors and CASTO. The nearly 460,000-square-foot lifestyle center was purchased in an off-market transaction.
Lakeside Village is anchored by Belk, CMX Cinemas, Books-A Million and Kohl’s with over 70 tenants occupying the space. CRC acquired the property on behalf of its Continental Realty Opportunistic Retail Fund I LP (CRORF) which focuses on distressed and value add retail properties. This acquisition brings CRC’s total ownership to close to two million square feet of retail space in Florida alone with plans to invest over $3 million into renovations including roof replacement exterior painting as well as revitalization of commercial office spaces at Lakeside Village.
