MIAMI (August 18, 2021) — Franklin Street has arranged the sale of a 1.44-acre site leased to Red Lobster at 7373 W. Colonial Dr. in Orlando. An entity owned by Abraham Cherem acquired the site from Master Carwash, L.L.C, for $4,193,312 million.

Adam J. Tiktin, Greg Matus and Steven Logan of Franklin Street’s Florida Investment Sales Team, represented seller in this transaction. The deal closed on Aug. 9th. 

The Red Lobster property features 7,900 square feet and has 18.5 years remaining on its lease. The building is an outparcel to a 209,686-square-foot shopping center that benefits from retailers including Burlington, Ross Dress for Less, Marshalls and more. 

The property is situated on West Colonial Drive with average traffic counts of over 46,000 vehicles per day. Its centralized location is seven miles from Universal Studios, eight miles from downtown Orlando and 20 miles from Orlando International Airport. For more information, please visit FranklinSt.com.