Neighbor News
Colliers announces the sale of 67,500-square-foot retail plaza in Central Florida
Last Mile Investment buys Springs Plaza, a premier open-air retail center, in Longwood
Colliers | U.S has announced the sale of Springs Plaza, a 67,477-square-foot premier open-air shopping center shadow-anchored by Publix, to Last Mile Investments for an undisclosed price. The property is located at 2381 W State Road 434 in Longwood, which is the wealthiest zip code in Orlando’s MSA and approximately 15 miles north of Orlando.
Colliers’ Brad Peterson, Michael Brewster and Tommy Isola represented the seller, a joint venture between MCB Real Estate, Faison Enterprises, Inc. and Crossmarc Services, LLC in the sale transaction.
“This offering was very competitively chased by a diverse profile of investment capital from 1031 investors and private families to today’s leading institutional investors seeking essential and convenience strip centers,” said Isola, associate at Colliers.
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Built in 1979 and renovated in 2024, Springs Plaza is shadow-anchored by a high-performing Publix Supermarket, the number-one grocer in the Southeast by market share and complemented by an adjacent Publix Liquor store. The center is home to a dynamic blend of existing and tenants coming soon—including Banfield Pet Hospital, First Watch, Foxtail Coffee Co., Hand & Stone, Hurricane Grill & Wings, Jersey Mike’s Subs, Mathnasium, SoFresh, Tropical Smoothie Café and Woof Gang Bakery.
Outparcels were also included in the sale that are occupied by Regions Bank and Jeremiah’s Italian Ice. Most tenants have enjoyed long-term occupancy, with over half having renewed and an average shop tenure exceeding 10 years, further enhancing the center’s investment appeal.
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The property was 98.2% occupied at the time of the sale.
“This transaction underscores the continued strength of the Orlando retail market and the appeal of high-quality, well-located assets,” said Peterson, vice chairman at Colliers. “Springs Plaza’s exceptional tenant mix, strong leasing history and prime location position it for long-term success.”
Strategically located at a prime 20-lane signalized intersection in Longwood—Orlando MSA’s wealthiest ZIP code (average net worth $2.6 million-plus), surpassing Winter Park, Windermere and Lake Nona—Springs Plaza benefits from 84,000 vehicles per day and proximity to two additional signalized intersections.
About Colliers
Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fueled by visionary leadership, significant inside ownership and substantial recurring earnings. With $5.5 billion in annual revenues, a team of 24,000 professionals, and $108 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
About MCB Real Estate
Founded in 2007, MCB Real Estate is a community-centric, privately held national commercial real estate investment management and development firm headquartered in Baltimore, Maryland. MCB boasts a nationwide portfolio of $3.3 billion in assets under management totaling approximately 17 million square feet with almost six million square feet in its development pipeline. Property types include industrial, office, retail, mixed-use, multifamily, and healthcare. The firm offers a seamlessly integrated suite of commercial real estate investment services, including acquisitions, development, construction, asset management, property management, leasing, marketing, financing, and legal expertise, thus ensuring comprehensive support throughout every stage of an asset’s lifecycle. Learn more at www.mcbrealestate.com
About CrossMarc Services
Founded in 2020, Winter Park-based CrossMarc Services is an owner and investor in commercial real estate in Florida. In addition, they provide consulting services nationally for family offices, corporations, investors, and local government. For additional information visit www.crossmarcservices.com
About Last Mile Investments
Last Mile Investments (LMI) is the preeminent retail operator and investment manager focused on the multi-tenant, “last mile retail” sector across the U.S., a sector that is defined by the most convenient, highly trafficked and in-demand locations within highly desirable suburbs across the United States. This asset class is often misunderstood and mismanaged and hence overlooked, but in reality, these centers are the backbones of the areas they serve given their prominent locations, with broad and increasing demand from daily and essential service (hair, dental, urgent care and vision, among others) and food uses. As a leadership team boasting more than five decades of experience in every aspect of retail investing, operations, and value creation, including senior roles at several of the largest retail real estate platforms in the United States, the company has dedicated their platform to the Last Mile retail sector given the quality of real estate and secular tailwinds. This commitment is a direct result of their focus on producing the highest risk-adjusted returns, throughout cycles on behalf of their Investor base. The “Last Mile” is where people will not only live, but work, eat and demand their essential services to be.
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