MCB Sells 67,500 SF Orlando-Area Retail Center

MCB Real Estate is pleased to announce the successful sale of Springs Plaza, a 67,500-square-foot retail center located in Longwood, Florida. An MCB joint venture acquired the Publix shadow-anchored property in 2022 at 81% occupancy and executed a targeted value-add strategy to unlock its full potential.

Over a 36-month hold period, MCB invested more than $1 million in capital improvements, including façade modernization, upgraded lighting and signage, and refreshed landscaping. These enhancements revitalized the center and drove occupancy to 98%. Renovations, combined with strong tenant relationships, supported leasing, retained top performers, and replaced underperforming tenants with higher-credit retailers, resulting in an 18% increase in occupancy and a 47% boost in NOI.

The successful repositioning generated strong market interest, attracting a highly competitive buyer pool that included 1031 exchange investors, private family offices, and leading institutional groups seeking essential, convenience-oriented retail assets. MCB sold the property ahead of business plan, capturing significant value and maximizing investor returns.

Springs Plaza benefits from a strong trade area, with nearby households averaging a net worth of $2.6 million. Its anchor tenant, Publix—ranked in the top 25% of the chain—draws more than one million customers annually, supporting tenant sales performance and long-term demand.

The center is home to a dynamic mix of existing and soon-to-open tenants, 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, occupied by Regions Bank and Jeremiah’s Italian Ice. Most tenants have enjoyed long-term occupancy, with over half having renewed their leases and an average shop tenure exceeding 10 years, further enhancing the center’s investment appeal.

This sale underscores MCB’s disciplined investment approach and continued momentum in the commercial retail sector.