CTO Realty Growth announced a 10‑year lease for 48,000 sq ft at the Marketplace at Seminole Towne Center in Orlando, Florida. The new tenant will replace the 34,000 sq ft previously occupied by Big Lots, and the lease also includes 9,000 sq ft of small shop space and 5,000 sq ft of new expansion space, bringing the center to full, 100 % occupancy.
The Seminole Towne Center had struggled for years, with a 79 % occupancy rate in 2024 and a looming closure in early 2025. CTO’s acquisition and subsequent lease of the anchor space marks a turnaround of a once‑distressed property, demonstrating the company’s ability to attract high‑quality tenants and stabilize cash flow in a challenging retail environment.
This lease is part of CTO’s broader strategy to convert distressed anchor vacancies into higher‑rent, high‑quality tenants. With seven of ten targeted anchor spaces now leased, the company is on track to achieve its 40‑60 % positive cash leasing spread target and to generate a significant earnings tailwind as the portfolio moves toward full occupancy.
CEO John P. Albright said the new lease “highlights the progress we’ve made in resolving anchor vacancies and reinforces our confidence in the long‑term value of the Marketplace.” While CTO’s Q3 2025 earnings missed expectations—reporting an EPS of $0.03 versus a consensus of $0.49—the lease underscores operational momentum that could support future profitability.
No specific market reaction data were reported for this announcement, but the lease’s completion of a full‑occupancy milestone is likely to be viewed positively by investors focused on portfolio performance and NOI growth.
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