- March 28, 2024
Loading
DR. PHILLIPS One of the busiest shopping centers in the Dr. Phillips area — which includes much of Restaurant Row — has sold for $92.5 million.
Jacksonville-based developer and real estate investor Regency Centers announced Dec. 21 that it, along with a partner, had acquired the 201,000-square-foot property known as Plaza Venezia. Situated on about 25 acres along Sand Lake Road in the Dr. Phillips community, Plaza Venezia is anchored by Publix Super Markets and is in close proximity to Interstate 4, International Drive and other popular Central Florida attractions.
Plaza Venezia boasts more than 55 spaces for retail, including second-story office space. According to Regency Center’s property brochure, six openings are currently available for lease.
Some retailers in Plaza Venezia include Eddie V’s, Rocco’s Tacos, First Watch, Starbucks, Publix, Seasons 52, Roy’s, Panera Bread, Bonefish Grill and Barnes & Noble. Regency Centers stated in its property brochure that the plaza anchors much of Orlando’s strongest restaurant concentration and sees more than 66 million visitors each year.
“Plaza Venezia fits perfectly within Regency’s strategy of owning best-in-class grocery-anchored shopping centers in dominant trade areas,” said Barry Argalas, senior vice president of national transactions for Regency Centers, in an official statement on the company’s website. “Plaza Venezia serves the affluent Dr. Phillips and Bay Hill submarkets and further benefits from strong daytime and evening traffic.
“The combination of these factors creates a thriving retail environment for tenants at the center and enhances the opportunity for future growth.”
Regency Centers has owned, operated and developed grocery-anchored retail centers for more than 50 years. It owns 307 centers, 18 regional offices and properties located in most major U.S. markets.
Contact Danielle Hendrix at [email protected].