West Colonial Oaks, a grocery-anchored shopping center on West Colonial Drive in West Orange County, quietly changed hands this spring for roughly $25 million. The center, long anchored by a neighborhood supermarket and several national tenants, is still heavily leased and will keep operating under its new landlord.
Newport Capital Partners, which acquired the property in 2021, says it sold the asset in May for $25.1 million, according to Newport Capital Partners. The Orlando Business Journal reported the buyer is Dallas-based Tabani Group in coverage published June 12, 2026.
The roughly 161,333-square-foot center sits at 7150–7300 W. Colonial Drive near Hiawassee, per LoopNet. It was about 95% occupied at the time of the sale and is anchored by SuperFresh Market, with longtime tenants including Ollie’s, Olive Garden, and Family Dollar, according to ConnectCRE.
Brokers Pitched Stability And Necessity Retail
Colliers brokers Brad Peterson and Whitaker Leonhardt represented Newport in the transaction and leaned on the grocery anchor and long-tenured national tenants when marketing the asset. "West Colonial Oaks exemplifies the type of durable, necessity-based retail that continues to attract strong investor demand," Leonhardt said, according to Central Florida CRE-sources.
Value Creation And Traffic Counts
Newport says it pushed occupancy higher and boosted income during its hold by renewing leases, backfilling vacancies, and developing a pad site, moves that helped position the asset for sale, the company wrote on its website. Newport Capital Partners also noted the center benefits from heavy nearby exposure, citing total traffic reach of roughly 169,000 vehicles per day from adjacent corridors.
Buyer Profile And Local Implications
The buyer, identified by the Orlando Business Journal as Tabani Group, is a Dallas-based owner-operator with a national retail portfolio, according to Tabani Group. The company has previously owned retail and mixed-use assets across multiple states.
For shoppers and small businesses on the strip, the immediate outlook appears to be continuity. Most national tenants have long-term leases, and brokers say the new owner is likely to prioritize steady income over redevelopment. The sale underscores continued investor appetite for grocery-anchored assets in Central Florida even as the retail landscape keeps shifting.
