Owens Acquires New Properties in Hannibal Square
WINTER PARK, FL | JANUARY 12, 2016
Owens Realty Capital announced today that they acquired a portfolio of 7 buildings and two land parcels in the Hannibal Square district of downtown Winter Park for $32,475,000. The assemblage of seven buildings situated along West New England and West Welbourne Avenues between South Pennsylvania and South Virginia Avenues. Constructed between 1945 and 2005, the buildings encompass 30,079 square feet of retail and 14,572 square feet of office space, nearly 100 percent leased to various tenants, including restaurants, upscale salons, interior design studios, and home furnishing retailers. In addition, the property also has a 72-unit residential component totaling 51,235 square feet that is 100 percent leased.
Palmer Vietor from Owens Realty Services represented the buyer in the off-market transaction, and Michael Weinberg and Matthew Sand from HFF handled the debt placement. With this transaction, Owens Realty Capital now owns nearly 2.5 acres of vacant land, 185,000 SF of commercial space, and a 250-space garage, all within the Hannibal Square area.