Seminole Towne Center

CTO Realty Growth Announces Acquisition of 318,000 Square Foot Retail Power Center in Orlando, Florida for $68.7 Million

Retrieved on: 
Thursday, March 21, 2024
Property, MSA, SR 417, TJX Companies, Acquisition, Urban Land Institute, Ulta Beauty, Seminole Towne Center, Retail

WINTER PARK, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the acquisition of Marketplace at Seminole Towne Center, a 318,000 square foot multi-tenant retail power center in the Sanford submarket of Orlando, Florida (the “Property”) for a purchase price of $68.7 million.

Key Points: 
  • WINTER PARK, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced the acquisition of Marketplace at Seminole Towne Center, a 318,000 square foot multi-tenant retail power center in the Sanford submarket of Orlando, Florida (the “Property”) for a purchase price of $68.7 million.
  • The purchase price represents a going-in cap rate within the range of the Company’s current guidance for initial cash yields.
  • Seminole Towne Center is situated on 41 acres along I-4 and SR 417, just over 20 miles north of downtown Olando, Florida.
  • A portion of the acquisition was structured as a reverse like-kind exchange in anticipation of possible future income property dispositions by the Company.

Elev8 Fun Announces Its First Location Opening Winter 2021 in Sanford, Florida

Retrieved on: 
Monday, November 15, 2021
KRIG, Family, City manager, Family entertainment center, Kohan Retail Investment Group, Seminole Towne Center, Real estate, Commerce, The CEO Show with Robert Reiss, Drink, Columbia University, Environment, City, Food, Life, Amusement park, Commercial property

Scheduled to open in early December 2021, the flagship location, located at 320 Towne Center Circle, ensures to "elevate fun" for all ages.

Key Points: 
  • Scheduled to open in early December 2021, the flagship location, located at 320 Towne Center Circle, ensures to "elevate fun" for all ages.
  • The Sanford location will be the first of many Elev8 Fun locations, according to David Goldfarb, consulting partner in Elev8 and founder of PrimeTime Amusements, aglobal operator and providerof video arcade machines and simulators.
  • A second Elev8 Fun location is set to open in Tampa, Florida in 2022.
  • Elev8 Funlocations will be opening in shopping malls across the country, with its first two locations in Sanford and Tampa, Florida.