Commercial Real Estate, Capital, Insurance, Leasing & Management

Orlando Business Journal: Winter Springs mixed-use property sells to group seeking value-add opportunity

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A South Florida-based real estate investment group bought a mixed-use property featuring 41 apartments and four retail spaces in the Winter Springs Town Center for $11 million.

Norfolk, Virginia-based Cohen Investment Group sold the Tuskawilla Park property to Pembroke Pines-based Terra Equity Group.

Franklin Street’s Darron Kattan, Zach AmesAvery Jordan and Mark Savarese brokered both sides of the sale, which closed Feb. 18, Seminole County records show.

The property spans two buildings on 1.57 acres at 1401 Blumberg Blvd. in Winter Springs, near the northeast corner of the larger town center development. The two buildings are three and four stories in height.

“Tuskawilla Park offered an investor the opportunity to acquire a well-maintained asset with highly desired walkability to numerous retailers, restaurants and services that has helped keep occupancy rates high,” said Franklin Street’s Kattan, who is managing director and multifamily brokerage specialist.

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