IRC Retail Centers Acquires Goldenrod Marketplace Phase II in Orlando, Fla.

OAK BROOK, Ill.--(BUSINESS WIRE)-- IRC Retail Centers (IRC), a leading real estate company that owns and operates high quality, necessity and value-based retail centers in select markets within the Central and Southeastern United States, today announced that it has acquired Phase II of Goldenrod Marketplace, a community shopping center located in Orlando, Fla., for $6.0 million in cash. Goldenrod Marketplace Phase II comprises approximately 33,140 square feet of in-line retail space that is nearly fully leased to Dollar Tree, Great Clips, Lucky Me, Payless Shoes, Rue 21 and Sally Beauty.

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IRC previously acquired Goldenrod Marketplace Phase I in December 2013. Phase I totals approximately 97,500 square feet of retail space, including 64,000 square feet leased to anchor tenants Marshalls and L.A. Fitness, two multi-tenant outbuildings totaling 27,500 square feet that feature a complementary blend of retailers and service providers, and two outparcel buildings totaling 6,000 square feet that are ground leased to Taco Bell and KFC. In total, Goldenrod Marketplace aggregates approximately 130,640 square feet of gross leasable area (GLA) including ground leases and is approximately 94.7% leased. The center is shadow-anchored by a 207,000-square-foot Walmart Supercenter.

“We are pleased to complete our acquisition of Goldenrod Marketplace, which is well-located in a top U.S. market and showcases a diverse mix of tenants offering everyday goods and services,” said Scott Carr, executive vice president and chief investment officer for IRC Retail Centers. “Our acquisition of this recently completed retail center complements our ongoing activities with established developers to construct value-oriented and grocery-anchored shopping centers across the central and southeastern United States.”

The Goldenrod Marketplace shopping center is situated in Orlando’s southeastern market at the intersection of Narcoossee and Goldenrod Roads, where traffic counts exceed 50,000 cars per day. The center draws from a five-mile population base of more than 176,000 with an average household income of nearly $61,000.

For information on leasing opportunities at Goldenrod Marketplace, contact Mike Fitzgerald, senior vice president of leasing, at 877-206-5656.

About IRC Retail Centers

IRC Retail Centers LLC is a real estate company focused on owning and operating open-air neighborhood, community and power shopping centers located in well-established markets primarily in the Central and Southeastern U.S. The company currently has an ownership interest in more than 130 properties totaling approximately 15 million square feet of leasable space. Its necessity and value-centered retail portfolio features properties that deliver the right combination of location, market position, and tenant mix to drive consumer traffic at its centers. Additional information on IRC Retail Centers is available at www.ircretailcenters.com. Follow us on Twitter and connect with us via LinkedIn and Facebook. IRC Retail Centers is owned by funds managed by DRA Advisors LLC (DRA). DRA is a registered SEC investment advisor with $9.4 billion of assets under management, headquartered in New York with offices in San Francisco and Miami. Additional information on DRA Advisors LLC is available at www.draadvisors.com.

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IRC Retail Centers:
Mike Fitzgerald, Senior Vice President of Leasing
877-206-5656
[email protected]
or
William Anderson, Senior Vice President of Transactions
877-206-5656
[email protected]
or
Dawn Benchelt, Director of Communications and Marketing
877-206-5656
[email protected]

Source: IRC Retail Centers

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