Marcus & Millichap Brokers $6 Million Sale of Orange Avenue Plaza in Orlando's Indie Ivanhoe Village

ORLANDO, Fla., Sept. 19, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Orange Avenue Plaza, a 7-unit retail strip in Orlando, Florida, for $6,025,000.

"This sale highlights the continued strength of Orlando's core retail market, particularly in dynamic areas like Ivanhoe Village. Orange Avenue Plaza is well-positioned for long-term success, offering strong upside potential for the new owner," said Tarek Chbeir, senior associate in Marcus & Millichap's Orlando office. Chbeir exclusively marketed the property on behalf of the private seller.

Orange Avenue Plaza, located at 1829-1915 N. Orange Ave., is in the heart of Ivanhoe Village near Orlando's downtown business district and downtown Winter Park. The area has seen strong growth, with a 3.9% annual population increase from 2010 to 2023 and more than 275,000 residents within a 5-mile radius.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.