Commercial Real Estate, Capital, Insurance, Leasing & Management

OBJ: Baldwin Park owner buys shopping center near downtown with redevelopment plans

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The owner of Baldwin Park’s retail real estate purchased a more than 50-year-old shopping center southwest of downtown Orlando — a signal that the shopping center may undergo changes in the future.

…The property is expected to increase in value once the nearby Holden Avenue extension is completed, connecting the upscale Millenia area to Southgate Shopping Center, said Terrence Hart, senior director at Franklin Street of Orlando, which was hired to market the shopping center. In the near term, Tabani and Franklin Street are seeking groups to fill empty spaces, including the 15,000-square-foot recently vacated Value Pawn.

It’s not known when the Holden Avenue extension is expected to be completed, and an Orange County representative wasn’t immediately available for comment.

“It’s a long-term hold and redevelopment play,” Hart said. “In the next 3-5 years, this could be a very different market.”

Read the story from Orlando Business Journal.

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