CBRE Group, Inc. has arranged the sale of Plaza Venezia, one of Florida’s prime retail properties, to Jacksonville-based Regency Centers Corporation for an undisclosed price.

Located at 7640 Sand Lake Road, the asset totals 201,808 square feet on over 27 acres of land and includes five outparcels. At 95 percent occupancy, current tenants include restaurants Eddie V’s, Rocco’s Tacos, Seasons 52, and Bonefish Grill as well as grocer Publix.

CBRE’s Casey Rosen and Dennis Carson represented the seller, TH Real Estate (a division of TIAA Global Asset Management).

“Plaza Venezia is one of Florida’s best open air shopping centers and is a key component of Sand Lake Road’s ‘Restaurant Row’, adjacent to Orlando’s highest income communities,” said Mr. Rosen, Executive Vice President, CBRE Capital Markets. “The existing high-profile tenants are highly successful and help make this a truly unique investment opportunity with significant future cash flow growth.”

Plaza Venezia has over 2,300 feet of frontage on Sand Lake Road and is .6 miles west of an interchange with I-4. The property is part of one of Orlando’s strongest retail sub markets with an overall 96 percent occupancy in the area and an average asking rent of $45 per square foot.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.