CTO Realty Growth, a publicly traded real estate investment trust, recently acquired a portfolio of three open-air shopping centers for $137.5 million. Two of the properties are located in Florida and were sold by SITE Centers.
The first property, Millenia Crossing, is situated on 11 acres next to the Mall at Millenia along Interstate 4 in Orlando. This approximately 100,000 square feet retail center boasts an impressive occupancy rate of 96% and is anchored by Nordstrom Rack.
The second property in Florida is Lake Brandon Village which spans approximately 102,000 square feet on eight acres east of Interstate-75 in Brandon. This location benefits from being part of Tampa’s thriving retail market and has a full occupancy rate with anchor tenants such as Sprouts Farmers Market, PetSmart,DWS,and Scandinavian Design Furniture; it also has Lowe’s as its shadow anchor.
Overall,CFO Realty Growth focuses on owning and operating retail-based properties primarily located in high-growth markets across the United States.
