Miami-based TCII Capital Group spent $9.5 million on Wednesday for a four-story office building and adjacent retail properties at one of Winter Park's busiest intersections.
Located on the southwest corner of W. Fairbanks and S. Orlando avenues, the four properties acquired total 1.99 acres, and are set just behind the Mattress One-anchored parcel directly on the corner.
TCII vice president Jason Glaser said Thursday the new Winter Park properties are "well-situated and stable assets" with no immediate renovation needs.
"It's a strong intersection in a very strong market," Glaser told GrowthSpotter. "We like high quality assets like this. It's just really good real estate."
The two smaller parcels each have a one-story retail building, including a restaurant now under construction. TCII declined to name the restaurant.
Lee Zerivitz of CITY Commercial represented TCII's buyer affiliate Winter Park Investment Group LLC.
The newest acquisitions add to TCII's growing Orlando-area portfolio.
Prior to this week's deal, the full-service real estate firm owned four properties in the area, including a strip mall in Altamonte Springs purchased in February.