Phillips Edison acquired Alafaya Square, a 168,532-square-foot grocery-anchored retail center for $69.1 million. The center is located at 81 Alafaya Woods Blvd. in Oviedo, Florida.

JLL represented the seller, a joint venture between MCB Real Estate and an institutional investor, in the transaction. JLL says the transaction represents the largest single-asset retail sale in Seminole County history. The JLL Capital Markets team was led by Danny Finkle and Jorge Portela, along with Evan Lahr.

Alafaya Square is a 96%-occupied neighborhood shopping center situated on approximately 21.1 acres in Seminole County within the Orlando metropolitan area. The center is anchored by Publix and features a mix of national and regional tenants, including Planet Fitness, IHOP, Keller Williams, Froggers Grill & Bar and Arcade Monsters, among others.

Alafaya Square benefits from direct access to Alafaya Trail and proximity to State Road 434 and State Road 417.

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