A former Orlando Magic player who recently bought a shopping center has just flipped it for a profit.
's VO Spv Real Estate LLC sold Metro Station at 2252 S. Kirkman Road on Dec. 20 to Aventura-based Shaked 25 LLC for $8.33 million, according to Orange County property records. Oladipo purchased the property in June 2021 for $7.6 million
, netting a roughly $800,000 profit within six months.
, owner of Shaked 25 LLC, told Orlando Business Journal
he will use the property as an investment property and was drawn to purchase it by both its location and the building itself. Shaked makes property investments across Florida and is active in Orlando, having recently bought a 43,969-square-foot low-rise office building at 5749 Westgate Drive for $8.3 million on Dec. 30, per county property records.
and Brad Kuskin
with New York-based Compass represented both sides of the deal, bringing the buyer and seller together. Oladipo — currently with the Miami Heat — was motivated to sell the property because of the booming local real estate market, Hogan told Orlando Business Journal
"The property was sold off market and was never listed," Hogan said. "We had the deal under contract within two weeks while we prepared to list the property."
The roughly 46,000-square-foot shopping center was built in 2003 and had a market value of $6 million in 2020, according to the Orange County Property Appraiser. It previously sold for $5.9 million in February 2016.
The shopping center is considered a shadow anchor as it's next to an anchor tenant, Walmart Supercenter, but is owned by a separate entity. The location next to Walmart will drive traffic to the shopping center, retail expert Jorge Rodriguez
, executive managing director for Colliers, who wasn't involved in the deal, previously told Orlando Business Journal
"Investing in retail real estate is a great strategy for high net worth individuals to create wealth," Rodriguez said.