Orlando Fashion Square, Orlando, FL

Savills represented a joint venture between Colonial Properties Trust and Prudential Real Estate Investors in the sale of this 1.1 million square foot super-regional mall located in Orlando, Florida.

This Class A property is one of the oldest malls serving the Orlando market and was in the process of being re-merchandised and redeveloped to include a theatre on its second and third floors while Savills was marketing the property.

Despite the challenges of the property's transitional state and ownership subject to an onerous ground lease with rent based upon a percentage of the mall's gross revenues, Savills successfully arranged a sale of the property to Pennsylvania Real Estate Investment Trust for $123 million.