Vero Beach investor pays $29.6M for Fresh Market-anchored Mills Park

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The Market at Mills Park retail plaza, which includes The Fresh Market at 1500 N. Mills Ave in Downtown Orlando, was acquired for $29.6 million on Tuesday by an affiliate of Vero Beach-based Evans Properties

The 6.185-acre parcel, which is anchored by the grocer and multiple restaurant and retail tenants across 66,000 square feet of leasable space, was bought by Evans Mills Park LLC. The parent company self-describes as one of Florida's largest citrus operators, with a diverse portfolio of real estate investments and development projects throughout Central Florida. The buyer was advised by Ram Realty Services

Calls to Evans Properties weren't returned for this story as of Wednesday afternoon. 

The seller was CRP II–Mills Park LLC, an affiliate of Tampa-based Forge Capital Partners, which joint ventured on the project with DeBartolo Development. Calls to FCP's executive team were not returned on Wednesday.

The sellers were represented by Casey Rosen and Dennis Carson, part of CBRE's National Retail Investment Group out of Miami.

It is not clear whether the sale is related to The Fresh Market agreeing to be bought by an affiliate of Apollo Global Management for roughly $1.4 billion. That deal was announced one day before the deed on this property was transferred.

The Market at Mills Park was built in 2013, and is part of a mixed-used development which includes The Gallery at Mills Park apartment complex (not included in this transaction).

The property was 93 percent leased at time of sale to tenants such as AT&T, PNC Bank, Giraffas, Pure Barre, Banfield Pet Hospital, Firebirds Wood Fired Grill and The Brass Tap.

Teresa Burney can be reached at 352-455-1955, or at teresaburney4@gmail.com. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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