InvenTrust Properties Corp. announced that it has acquired the Lakeside Winter Park and Lakeside Crossing, two centers in Winter Park, Florida totaling 76,000 square feet for $63.5 million.
“Through the acquisition of Lakeside, we are further enhancing our presence in Florida,” said Christopher Covey, Senior Vice President of Transactions for InvenTrust.
“Developed in 2014, Lakeside offers a foothold in our target market of Orlando, with a desirable location in the high-population and high-income Winter Park area. Lakeside has a solid base of national and regional tenants, including its anchor tenant Trader Joe’s – one of only two Trader Joe’s locations in the Orlando area. This acquisition delivers additional grocer diversification within our Orlando portfolio.”
The Lakeside centers are located across the street from each other on Orlando Avenue, the main retail corridor in Winter Park, and five miles directly north of Orlando. The property features a number of restaurant and service-oriented retail tenants such as Shake Shack, Bulla Gastropub, OrangeTheory Fitness, Pearle Vision and Guidewell Emergency.