ORLANDO, FL (August 13, 2021) — Franklin Street has arranged the sale of a 1.44-acre site leased to Red Lobster at 7373 W. Colonial Dr. in Orlando. An entity owned by Abraham Cherem acquired the site from Master Carwash, L.L.C, for approximately $4.2 million.
Adam J. Tiktin and Greg Matus, of Franklin Street’s Florida Investment Sales Team, represented seller in this transaction.
The Red Lobster property features 7,900 square feet and has 18.5 years remaining on its lease. The building is an outparcel to a 209,686-square-foot shopping center that benefits from retailers including Burlington, Ross Dress for Less, Marshalls and more.
The property is situated on West Colonial Drive with average traffic counts of over 46,000 vehicles per day. Its centralized location is seven miles from Universal Studios, eight miles from downtown Orlando and 20 miles from Orlando International Airport.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.