Newport Capital Partners has sold West Colonial Oaks, a grocery-anchored retail center in Orlando, FL, to a Dallas-based family office for $25.1 million. The shopping center totals 161,333 square feet and is located at 7150 W. Colonial Drive, positioning it along a major commercial corridor in the Orlando market. The transaction reflects continued investor interest in grocery-anchored assets supported by essential retail tenants and stable in-place occupancy.
Colliers brokered the sale on behalf of Newport Capital Partners, with Brad Peterson and Whitaker Leonhardt providing representation in the transaction. Their assignment covered marketing the center and coordinating the sale to the private family office buyer based in Dallas. The closing underscores the role of experienced investment sales teams in matching institutional sellers with private capital targeting income-producing retail centers.
West Colonial Oaks is anchored by SuperFresh Market, a banner of Key Food Stores. Key Food operates more than 320 locations across nine states, and SuperFresh Market recently executed a long-term lease extension at the center. The extension reinforces the center’s grocery-anchored profile and provides visibility into future income from its primary anchor tenant. In addition, the center is shadow-anchored by The Home Depot, which draws consistent traffic to the location.
The property features several additional anchors, including Ollie’s, Olive Garden, Family Dollar and Crazy Buffet. According to the parties, these tenants have long operating histories at West Colonial Oaks and are generating strong sales on relatively low rents. This combination suggests embedded rent upside over time as leases roll and are marked to prevailing market rates, while day-to-day operations continue to benefit from established tenant performance.
At the time of sale, West Colonial Oaks was reported to be 95% occupied, highlighting the property’s stable leasing profile. The high occupancy, longstanding tenancy and recent grocery-anchor lease extension collectively support the buyer’s income thesis for the asset. For Newport Capital Partners, the sale is consistent with its focus on actively managing and trading retail properties aligned with its investment strategy.
Newport Capital Partners is a vertically integrated real estate investment manager and operator concentrating exclusively on everyday essential retail. Founded in 2004, the firm has maintained a specialized approach focused on grocery-anchored and neighborhood shopping centers in dense, high-barrier-to-entry markets across the United States. The disposition of West Colonial Oaks in Orlando fits within that national footprint of essential retail properties.
