IDrive Orlando Strip Center Trades for $20M
JLL has arranged the $20.5 million sale of Tourist Plaza, a 50,712-square-foot strip center in Orlando. The fully-leased property is located along Orlando’s main tourist thoroughfare, International Drive. John Krzyminski and Max Krzyminski of JLL represented the seller, Tourist Plaza LLLP, in the off-market transaction. The buyer was Orion Buying Corp.
Located at 8510-8580 International Dr., Tourist Plaza was completed in 1991 and is home to a mix of restaurant and retail tenants, including Tony Roma’s, Bar Louie, Bargain World Gift Shop and Cici’s Pizza.
“International Drive is one of the hottest retail markets in the U.S., and real estate near the Orange County Convention Center and ICON Park trades at a premium in the rare opportunity that real estate does become available,” said John Krzyminski. “This will be an excellent generational hold and trophy asset for Orion’s portfolio.”