The commercial real estate in Florida continues to stand out as one of the most solid pillars of the North American real estate market. The combination of population growth, booming tourism and a constant influx of new residents means that commercial assets such as shopping malls, power centers and convenience centers are increasingly strategically important. These developments not only concentrate major brands and create jobs, but also become points of reference for consumption and the life of local communities.
In this scenario, the sale of Winter Garden Village in 2025The deal, valued at US$ 165 million, is noteworthy for representing Florida's largest retail real estate transaction of the year. More than just a deal, it signals the strength of this market and the continued interest of institutional investors in well-located assets with a consolidated tenant mix. The move reinforces the idea that, even in the face of global retail transformations, quality shopping centers remain a safe haven for those seeking long-term profitability and appreciation.
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HideThe sale of Winter Garden Village in 2025 is not just a landmark deal, but a milestone in Florida's commercial real estate sector. The development, located in Winter Garden, a booming region west of Orlando, was negotiated for US$ 165 million, making it the biggest retail transaction of the year in the state.
Negotiation details
The deal involved the departure of SITE Centers Corp., a company specializing in large shopping centers, decided to dispose of the asset as part of a portfolio reorganization strategy. The buyer was a fund linked to DWS Group / RREEF Property TrustDeutsche Bank's real estate arm, known for its long-term investments in high-quality assets.
Structure and occupancy
The Winter Garden Village has approximately 629 thousand square feet (around 58,000 m²) of gross leasable area, with 89% occupancy at time of sale. Anchor tenants include major brands such as Bealls, Best Buy, Burlington, Marshalls/HomeGoods, Ross Dress for Less and Ulta Beauty, consolidating the center as one of the most important in metropolitan Orlando.
Asset value history
This isn't the first big move involving the Winter Garden Village. In 2008, the mall was sold for US$ 180.4 millionand in 2013 by around US$ 196 million. The 2025 sale, therefore, reflects both market fluctuations and the continued attractiveness of the property, even in the midst of global retail transformations.
Representativeness for the market
The transaction shows that institutional capital continues to see value in strategic commercial assets, especially in regions like Orlando, where population growth and tourism create a solid consumer base. Winter Garden Village thus remains a symbol of the resilience and strength of the commercial real estate sector in Florida.
The sale of Winter Garden Village in 2025 goes beyond a simple real estate record. It offers clear clues about the direction of commercial real estate in Florida and how major investors are viewing physical retail in an increasingly competitive landscape.
Recalibration of portfolio managers
The departure of SITE Centers Corp. shows a trend towards reducing exposure to very large and anchored assetsThis is a trend that has seen a greater focus on smaller, convenience-oriented ventures. This movement reveals that managers are adjusting their portfolios to balance risk, liquidity and revenue predictability.
Confidence in the open-air model and power centers
DWS's interest in acquiring the Winter Garden Village reinforces the strength of DWS's model. open-air shopping centers. Unlike traditional enclosed malls, power centers offer greater flexibility in the mix of stores, low maintenance costs and a more practical shopping experience for consumers.
Comparison with previous transactions
The value history of the Winter Garden Village (2008: US$ 180.4 million; 2013: US$ 196 million; 2025: US$ 165 million) indicates that, although the current price is lower, the asset remains attractive. This shows that even in scenarios of economic adjustments or global uncertainties, well-located commercial properties maintain liquidity and relevance.
Signs for the future of physical retail
By attracting a global player with deep investment power, the deal suggests that physical retail is not in decline, but changing. The bet is on centers that combine big brands, convenience and renewal potential, factors that make these assets resilient to the growth of e-commerce.
The sale of Winter Garden Village in 2025 is not only a landmark deal, but also holds important lessons for those who follow the commercial real estate sector in Florida. Here are six lessons for investors:
1. Strategic recalibration of managers
Major players such as SITE Centers are repositioning their portfolios. The sale of Winter Garden Village shows a preference for smaller assetsmore liquid and focused on convenience, reducing exposure to large anchor centers.
2. Strength of the open-air model and power centers
The acquisition by DWS shows that institutional investors trust in the potential of open-air shopping centers, with easy access and a varied mix. This model has proven to be more resilient than traditional enclosed malls.
3. History of liquidity and valuation
Even with fluctuations in value (2008: US$ 180.4 million; 2013: US$ 196 million; 2025: US$ 165 million), Winter Garden Village proves to be a liquid and desirable asset. This demonstrates that strategic commercial real estate retains value over time.
4. Resilience of physical retail
Despite the growth of e-commerce, power centers remain essential consumer hubs. The interest of global funds confirms that physical retail is reinventing itself and still generates solid returns.
5. Attractiveness of the Orlando area
Winter Garden and the surrounding Orlando area combine high population density, mass tourism and real estate expansion. These factors sustain the demand for shopping centers and make the region a priority target for investors.
6. Benchmark for future negotiations
This transaction creates a market parameter. The value, occupancy (89%) and tenant profile become benchmarks for evaluating other similar assets in Florida, helping investors to project returns and risks.
The case of Winter Garden Village is not isolated: it reinforces a trend that has been consolidating for years. Florida is one of the most vibrant markets in the United States, and commercial real estate in Florida is increasingly sought after by investors looking for solid assets with potential for appreciation and income generation.
Population growth and domestic consumption
With thousands of new residents arriving in the state every month, Florida is experiencing continuous population growth. This expansion increases the demand for services, commerce and entertainment, strengthening the need for quality shopping centers.
Tourism as an economic engine
Orlando, in particular, is one of the most visited tourist destinations in the world. Millions of annual visitors create an additional flow of consumption, directly impacting restaurants, stores and services located in malls and power centers. This guarantees constant movement, as well as a solid base of local residents.
The difference between power centers and open-air malls
While some traditional malls face challenges in reinventing themselves, power centers and open-air shopping centers stand out for their practicality, mix of major brands and convenience. This model shows greater resilience and tends to attract tenants with established brands.
Stability and attractiveness for investors
The combination of population growth, global tourism and the consumer mix creates a favorable environment for investors. Commercial real estate in Florida offers not only recurring income through rents, but also long-term appreciation, making it a strategic asset for portfolio diversification.
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The sale of Winter Garden Village in 2025valued at US$ 165 million, confirms that the commercial real estate in Florida remain strategic and highly valued assets. Transactions of this size demonstrate the confidence of institutional investors in well-located developments and reinforce the solidity of the sector in a state that is growing at a rapid pace.
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📰 Sources on the sale of the Winter Garden Village (2025)
- CBRE facilitates sale of 629,326 SF retail center in Winter Garden
- CBRE Brokers $165 Million Sale of Winter Garden Village Shopping Center in Central Florida
- SITE Centers Sells Off Expansive Orlando Retail Center
- 1.1mln SF retail property in suburban Orlando to sell for $165mlnDWS acquires Winter Garden Village
- DWS Group acquires Winter Garden Village shopping center
- The Florida Lounge - Icon 192
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