Southern Management Development Buys Avamar Crossing Retail Center
WINTER GARDEN, FL – June 12, 2012 – (RealEstateRama) — Southern Management and Development, L.P. has purchased the 43,200-square-foot Avamar Crossing retail/office center in Winter Garden for an undisclosed price from lender Fifth Third Bank.
Built in 2008, Avamar Crossing is located along a high-profile corridor just west of Orlando, between Winter Garden and Walt Disney World. The property at the intersection of Marsh Road and Avalon Road (CR 545) is across from a Publix-anchored neighborhood center. Fifth Third recently took title to the property from the previous owner.
Boca Raton-based Southern Management and Development (SMD) will provide leasing and property management. “Buying a new center from the lender, in a growing area with strong demographics, gives us the opportunity to offer tenants solid value at competitive rates,” said SMD President Steven Levin. Avamar Crossing is close to the communities of Stoneybrook West and Horizons West.
The center offers suites ranging from 1,000 to 4,200 square feet for retail, restaurant and service tenants. An outparcel fronting on Marsh and Avalon Roads is available on the property, and SunTrust has purchased another outparcel.
Since 1972, SMD has focused on adding value to properties in the retail, office and multi-family sectors throughout Florida and Tennessee. Avamar Crossing is the latest addition to the 3.9 million-square-foot retail portfolio the company owns and manages. For information on Avamar Crossing contact Ryan Phelps at 561-948-7100 ext. 108 or visit www.smdproperty.com/avamar.html.
About Southern Management Development
Since 1972, SMD has focused on adding value to properties in the retail, office and multi-family sectors throughout Florida and Tennessee.
