Institutional Property Advisors Brokers Shopping Center Sale in Central Florida
MOUNT DORA, Fla., March 27, 2026 –Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Tri-Cities Shopping Plaza, a 71,172-square-foot shopping center in Mount Dora, Florida. The property sold for $12.4 million.
“Tri-Cities Shopping Plaza generated strong interest from multiple qualified buyers, driven by its quality anchor tenancy and location within a highly desirable submarket,” said Kirk D. Olson, IPA senior managing director. “The center enjoys a high traffic count along U.S. Highway 441 in Mount Dora, one of central Florida’s most dynamic, high-growth areas.” Olson and IPA’s Drew A. Kristol represented the seller, Davie, Florida-based Ross Realty Investments, and procured the buyer, a multigeneration investment group based in Florida.
Tri-Cities Shopping Plaza is located at the signalized intersection of U.S. Highway 441 and Eudora Road, which have a combined traffic count of approximately 53,900 vehicles per day. The 100%-occupied center is anchored by TJ Maxx, Ross Dress for Less and Dollar Tree, and includes a mix of retail, medical and service tenants, many of which have occupied the property for more than a decade.
The property is shadow anchored by a high-volume Hobby Lobby, with Walmart, Target and ALDI located less than half a mile away. Additional tenants include VIPcare Mount Dora, Victoria’s Hallmark, Bricks & Minifigs, and Papa John’s Pizza.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.