ORLANDO– JLL Capital Markets announced that it has closed the sale of Chickasaw Trail Shopping Center, a 75,492-square-foot neighborhood retail center anchored by a high-performing Presidente Supermarket near downtown Orlando, Florida.
JLL represented the seller and procured the buyer, Longpoint Realty Partners.
Chickasaw Trail Shopping Center is anchored by Presidente Supermarket, one of the largest Hispanic-owned supermarkets in the U.S. The 98.4-percent-occupied center opened in September 2021 under a long-term lease is home to Anytime Fitness, Dunkin’, Great Clips and Pak Mail and more. The center was originally constructed in 1994 and most recently renovated in 2018.
Positioned on 8.7 acres, Chickasaw Trail Shopping Center is at the signalized intersection of Curry Ford Road and Chickasaw Trail, which is a dominant 16-lane intersection with a combined 42,000 vehicles a day. This high-density, growing, infill location is not far from downtown Orlando and comprises more than 111,000 residents within a three-mile radius, and nearly 60 percent of that population is Hispanic.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Brad Peterson and Senior Director Whitaker Leonhardt.
“We have seen a big increase in the number of investors that are seeking Hispanic grocery-anchored centers,” Peterson said. “The Hispanic population in the U.S. has grown 20% since 2010, 2.7 times the pace of the overall U.S. population growth over the same period.
“Investors are picking up on these trends and identifying best-in-category Hispanic grocers, such as Presidente, and specifically seeking them out,” he added. “Our team also just came to market with another retail center sale in Orlando that has a Hispanic grocer and are getting the same high level of interest from the investment community.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.