ORLANDO, Fla., June 29, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Oak Ridge Plaza, a 75,701-square-foot retail center in Orlando, Florida. The 7.84-acre lot sold for $12.3 million.

The single-story, multi-tenant retail property located at 2332 W. Oak Ridge Road is anchored by Family Dollar, Biomat USA and La Familia Pawn. At the time of sale, Oak Ridge Plaza was 97% leased to 19 tenants, including United Temps and Boost Mobile.

"The buyers saw an opportunity to place exchange funds into a grocery-anchored retail center in a high-demand market and it made sense," said Nick Ledvora, first vice president investments in Marcus & Millichap's Orlando office. The property was sold by 2332 West Oak Ridge Road, LLC. The buyer, Aloma International Properties, Inc., was procured by Ledvora.

Oak Ridge Plaza is centrally located on Oak Ridge Road, between two major thoroughfares, John Young Parkway and South Orange Blossom Trail, and within 3 miles of Malls at Millenia and the Florida Mall.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.