June 23, 2016
Noble Properties has sold the 160,792-square-foot West Colonial Oaks in Orlando, FL to Triarch Capital Group for $16.5 million. The retail center at 7150-7300 W. Colonial Dr. sold within 90 days of it going to market.
“Overall, the Orlando retail sector continues to show signs of growth including decreasing vacancy and positive net absorption as a solid tourism base, strong consumer spending, and robust economy are propelling demand for retail space,” said John Crotty with Avison Young. Crotty teamed with Avison Young colleagues Steve Tanner, Joshua Ladle and Ray Hayhurst on the transaction.
Tenants include Office Depot, Family Dollar, Fancy Fruit & Produce, Olive Garden, and Ollie’s Bargain Outlet. The Home Depot is a shadow-anchor to the shopping center.