Casselberry’s busiest retail corner is getting a new playbook. Present Equity Advisors has scooped up Casselberry Square, an 88,846-square-foot retail center at State Road 436 and Red Bug Lake Road in Seminole County, in a deal that lands just under $14 million and folds in adjacent parcels the buyer says it may transform over the next two years. The sale hands a largely necessity-anchored neighborhood center, home to Ollie’s Bargain Outlet, Dollar General, and Pet Supermarket, to a value-add investor planning phased upgrades instead of a quick teardown. Neighbors can expect new signs, freshened facades, and gradual tenant reshuffling as the owner methodically refashions the corner.
As reported by the Orlando Business Journal, Present Equity Advisors paid nearly $14 million for the property, and the purchase package includes additional nearby lots that the company said could be redeveloped within about two years. The article was filed by J.C. Carnahan on April 16, 2026.
Property at a glance
Broker materials show the center totals roughly 88,846 square feet and sits at 906 State Road 436, with anchors including Ollie’s, Dollar General, and Pet Supermarket. An offering memorandum prepared by CBRE lists the center’s occupancy near 97%, notes a 2015 renovation, and flags heavy traffic counts at the SR-436 and Red Bug Lake Road intersection. Those materials also suggest modest in-place rents, which give a new owner room to boost net operating income through targeted capital work and lease resets.
Buyer and the plan
Present Equity Advisors, led by principal Shai Moschowits, has been active in retail and value-add deals in the Southeast, according to his LoopNet profile. Per reporting in the Orlando Business Journal, the purchase’s inclusion of extra parcels gives the buyer flexibility to phase renovations and explore alternate uses over about a two-year window, rather than trying to overhaul everything at once.
Why the corner matters
Small, necessity-anchored centers like Casselberry Square have become attractive targets for investors in Florida, where limited new retail supply and steady population growth have tightened vacancy and supported rent growth, according to analysis by the University of Florida Warrington College. That backdrop helps explain why sinking nearly $14 million into an aging but well-leased strip center can pencil out as a value-add strategy.
What to watch
Locals keeping an eye on the corner should look for building permits, signage changes, and new broker listings as the earliest clues to any repositioning. Expect a phased timeline, with cosmetic upgrades and lease work likely leading the way, and more substantive repurposing for any additional parcels following as approvals and market conditions line up.
