Phillips Edison & Company acquires Alafaya Square

• JLL Capital Markets arranged the sale of Alafaya Square, a grocery-anchored retail center in Oviedo, Florida, within the Orlando metro area

• Phillips Edison & Company acquired the recently renovated shopping center from a joint venture between MCB Real Estate and an institutional investor, marking the largest single-asset retail sale in Seminole County history

• Anchored by a newly rebuilt Publix, the property is positioned to benefit from strong consumer demand driven by surrounding residential growth, the University of Central Florida and major employment corridors

MIAMI, Oct. 9, 2026 – JLL Capital Markets announced today the sale of Alafaya Square, a 168,532-square-foot grocery-anchored retail center located at 81 Alafaya Woods Blvd. in Oviedo, Florida. The transaction represents the largest single-asset retail sale in Seminole County history.

JLL represented the seller, a joint venture between MCB Real Estate and an institutional investor, in the transaction. Phillips Edison & Company acquired the asset.

Alafaya Square is a 96%-occupied neighborhood shopping center situated on approximately 21.1 acres in Seminole County within the Orlando metropolitan area. The center is anchored by Publix and features a complementary mix of national and regional tenants including Planet Fitness, IHOP, Keller Williams, Froggers Grill & Bar and Arcade Monsters, among others spanning retail, dining, health and wellness, fitness, entertainment and service categories.

Located in the heart of the East Seminole retail corridor, Alafaya Square benefits from direct access to Alafaya Trail and proximity to State Road 434 and State Road 417. The property is positioned near the University of Central Florida, one of the nation's largest universities, as well as the Central Florida Research Park and Florida's High Tech Corridor. These institutions support a large base of students, faculty, technology firms, defense contractors and professional workers that drive consistent demand for retail and service businesses throughout the area.

The JLL Capital Markets team was led by Executive Managing Director Danny Finkle and Senior Director Jorge Portela, along with Associate Evan Lahr.

"Alafaya Square brought together many of the characteristics investors are seeking today: a dominant grocery anchor, meaningful recent capital investment and a location surrounded by long-term residential and employment growth," said Portela.

The sale continues JLL's strong momentum in the Orlando metropolitan area, where the firm has completed more than $235 million in grocery-anchored retail transactions year-to-date in 2026.

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Founded in 2007, MCB Real Estate is a community-centric, privately held national commercial real estate investment management and development firm headquartered in Baltimore, Maryland. MCB boasts a nationwide portfolio of $4.5 billion in assets under management totaling approximately 23 million square-feet with almost six million square-feet in its development pipeline. Property types include industrial, office, retail, mixed-use, multi-family and healthcare. The firm offers a seamlessly integrated suite of commercial real estate investment services, including acquisitions, development, construction, asset management, property management, leasing, marketing, financing and legal expertise, thus ensuring comprehensive support throughout every stage of an asset’s lifecycle. www.mcbrealestate.com

Phillips Edison & Company, Inc. (“PECO”) is one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of June 30, 2026, PECO managed 330 shopping centers, including 302 wholly-owned centers comprising 33.9 million square feet across 31 states and 28 shopping centers owned in three institutional joint ventures. PECO is focused on creating great grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.