Marcus & Millichap Arranges the Sale Of A 78,647-Square-Foot Multi-Tenant Plaza for $7.5M

ORLANDO, Fla., January 18, 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 Edgewood Isle Plaza, a 78,647-square-foot retail property located in Orlando, Florida. According to Justin W. West, regional manager of the firm's Orlando office, the 6.34-acre lot sold for $7,500,000.

The buyer, Fourth Atlantic Property Investments, was secured and represented by Salim Valiani, an investment specialist in Marcus & Millichap's Orlando office.

Edgewood Isle Plaza is located at 5601 S Orange Ave in Orlando, Florida. National tenants include Dollar Tree, Pizza Hut, Pinch-a-Penny, among other retail tenants. The plaza is centrally located in Edgewood, on a signalized corner between two major thoroughfares and within six miles of Universal Orlando Resort, Mall at Millenia, Orlando International Airport, and the downtown area.

"Edgewood Isle Plaza has a little over 30% vacancy, which was an attractive value-add for the buyer. Having successfully turned around other value-add retail plazas, the investor has the vision to upgrade the tenant mix through leasing the vacant units and possibly building on the vacant pad facing Hoffer Avenue," said Salim.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.