Open-air mall sells in Orlando suburb

Price per square foot hits $259

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GVA Advantis negotiated the sale of Town Center Shoppes, a 64,587-square-foot, open-air retail center in Oviedo, Fla. The value of the transaction was $16.7 million. RAM LAF Oviedo LLC, a Winter Park, Fla.-based limited liability company, sold the property to Gemini Town Center H and S LLC, a foreign limited liability company out of Charlotte, N.C., and New York. Constructed in 2005, Town Center Shoppes is located at 199 East Mitchell Hammock Road. Situated on approximately 8.9 acres, the property was 98 percent leased at the time of sale to 11 tenants, anchored by LA Fitness and Outback Steakhouse. GVA Advantis is a full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate projects and sites throughout the Southeast and Mid-Atlantic regions. ...