Owens Realty Services, an Orlando-based full-service real estate services company, recently negotiated the purchase of two key properties in Winter Park’s historic Hannibal Square for $10.15 million.
Owens Realty Services’ sister investment company, Owens Realty Capital, bought the mixed-use properties located at 444 W. New England Ave. and 362 Pennsylvania Ave. The purchase includes two buildings with 31 residential apartments, 25,500 square feet of retail space, 18,000 square feet of office space, and a 250-car parking garage with covered access to both buildings. Later this month, the combined property will be newly named The Plaza at Hannibal Square. Brian Carolan of Crossman & Company represented the seller in the transaction.
“The Hannibal Square neighborhood has been a part of Winter Park for more than a century, dating back to 1881,” said Bob Owens, co-founder and CEO of Owens Realty Services and Owens Realty Capital. We knew this redeveloped area had endless potential, so we saw an opportunity and seized it. We’re proud to be a part of restoring the historic heart of the west side.”
Owens Realty Services has already leased the majority of the property’s rentable square footage – approximately 72,300 square feet. Currently, 100 percent of the residential units are occupied; 13,000 square feet of the office space is leased; and 15,000 square feet of retail space is in use. Retail tenants include: Standard Pacific Homes and Sonobi Media.
“We’re very pleased with the quality of our tenants and the important services this shopping area and office space provides to Winter Park residents and visitors,” said Owens. “Our mission is to work closely with tenants, officials, and residents of the communities in which we do business to create places that will thrive over the long term. In just a few months, we’re off to an extremely promising start.”
Remaining Hannibal Square office and retail space is available for lease through Owens Realty Services. Please contact Palmer Vietor at 240-506-2627 or [email protected].
