Orlando, Fla. — Sean Glickman, senior advisor for institutional investments at Coldwell Banker Commercial NRT and founder of the Glickman Retail Group, has brokered the sale of Colonial Town Center in Orlando to an international buyer for $9.3 million.
The sale price was 99 percent of the asking price. Obtaining financing was difficult, according to Glickman, due to the short term on tenant HH Gregg’s lease, the parent company’s recent earning report and other factors. Glickman helped facilitate the loan as well as manage the entire transaction. The center, which is shadow-anchored by Walmart Neighborhood Market and Sam’s Club, was 90 percent occupied at the time of the sale with tenants such as HH Gregg, Mattress One and more.