ECHO Realty, a Pittsburgh-based private commercial real estate operator, has acquired the Publix-anchored Partin Village shopping center in Kissimmee for $20 million, one of eight new shopping centers the company recently bought in the southeast United States.
Partin Village, located at 2338 E. US 192 at the intersection with Partin Settlement Road, is a 65,000-square-foot center near Exit 224 of the Florida Turnpike. It's just a mile east of Osceola Heritage Park and across from the Osceola County Administration Center with 400 employees.
Aside from Publix at 45,600 square feet, the center's notable tenants include Subway, Wendy's and Quest Diagnostics. It has four outparcel sites at roughly an acre each still available.
Partin Village was built just a few years ago in 2012 by Faison-Pacolet Partin Village LLC, an affiliate of Charlotte-based development firm Faison Enterprises.
Faison bought the roughly 30 acre-site for $3.1 million in May 2011, and developed the shopping center with Pacolet Milliken Enterprises, and Orlando-based Windcrest Development.
Four of the eight shopping centers acquired by ECHO were Publix-anchored properties, which is in line with its strategy of buying well-located centers that are anchored by top grocers in each market.
ECHO has a portfolio of 190 properties with more than 9 million square feet, and provides management services for development and construction, property and partnership, and leasing/brokerage.