January 30, 2015
CRC Purchases Towne Square Shopping Center in Ocoee, FL for $10.1M
Sabharwal Properties sold the Towne Square Shopping Center at 11029-11177 W. Colonial Dr. in Ocoee, FL to Continental Realty Corporation for $10.1 million, or about $80 per square foot.
Built in 1986, the 126,168-square-foot community center sits on 14.8 acres in the West Colonial submarket of Orange County, off SR-50 near the Turnpike. The asset is currently 95 percent occupied, anchored by Old Time Pottery.
Continental Realty Corporation (CRC), headquartered in Baltimore and founded in 1960, is a full-service commercial real estate investment and management company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of over 3.5 million square feet of space, as well as apartment communities featuring nearly 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the value of the portfolio exceeds $2 billion.
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