MIAMI, February 14, 2017 – Orion Real Estate Group today announced it has closed on the purchase of 17,500 square-feet of ground-floor retail space at The Rialto rental apartments at 7341 Sand Hill Road in the Dr. Phillips suburb of Orlando, Fla. The seller was an affiliate of The Wilder Companies, a Boston-based real estate development, management and leasing firm specializing in the positioning of retail properties.
The $9.6 million deal expands Orion’s footprint in the area, where it already owns an adjacent mixed-use property that includes 7.74 acres of retail and 105,275 square feet of office space. The company originally purchased the office building from Wood Partners in 2014. At the time, the property was 50 percent occupied. Today it is fully leased.
According to Joe Sanz, CEO of Orion Real Estate Group, “The retail space at 7341 W. Sand Lake Road is a logical expansion of the momentum we’ve built since our original investment in the neighboring property four years ago. We foresee great opportunities to leverage our relationships with tenants in the market to bring added value to our investment, especially in the burgeoning Orlando market.”
Orion Real Estate Group provides commercial real estate services to investment clients around the world. Since its founding in 1978, the firm has been involved in more than $3 billion in transactions.
Working with clients across the United States, the firm helps clients and their investors through all phases of real estate transactions from strategic planning and analysis to financing, negotiation and disposition. For more information visit www.orionmiami.com.