Newport Capital Offloads 161K-SF Orlando Retail Center

Newport Capital Partners sold West Colonial Oaks, a 161,333-square-foot grocery-anchored retail center, to a Dallas-based family office for $25.1 million. The property is located at 7150 W. Colonial Drive in Orlando, FL. 

Colliers’ Brad Peterson and Whitaker Leonhardt represented Newport Capital Partners in the transaction. 

The center is anchored by SuperFresh Market, a brand of Key Food Stores, which operates more than 320 locations across nine states and recently executed a long-term lease extension at the property. West Colonial Oaks is also shadow-anchored by The Home Depot. Additional anchors include Ollie’s, Olive Garden, Family Dollar and Crazy Buffet, all of which feature long operating histories at the center and generate strong sales on relatively low rents, creating embedded rent upside. The property was 95% occupied at the time of the sale. 

Newport Capital Partners is a vertically integrated real estate investment manager and operator focused exclusively on everyday essential retail. Founded in 2004, Newport has remained committed to a highly specialized strategy centered on grocery-anchored and neighborhood shopping centers located in dense, high-barrier-to-entry markets across the United States.  

The post Newport Capital Offloads 161K-SF Orlando Retail Center appeared first on Connect CRE.

​