Orlando Investment Land for Sale | Retail Development | Orlando Florida

Investment / Development

Maury L. Carter & Associates, Inc.’s major Investment / development projects:

Church Street Station, downtown Orlando, Florida

SuperTarget-anchored 200,000 s.f. shopping center with outparcels, SR 50/Hancock Road, Clermont, Lake County, Florida

Motorola DRI 556,000± square foot building on 90± acres at Congress/Gateway, Boynton Beach, Palm Beach County, Florida

Interstate 4/Palm Parkway 53± acre Tourist Commercial / Hotel Planned Development, Orange County, Florida

Orlando Corporate Centre DRI 412± acres, Orange County, Florida

Timacuan 60± acres, Rinehart Road, Lake Mary, Florida

I-4/Saxon Boulevard 21± acres, Volusia County, Florida

Metro Center 11± acres, Orange County, Florida

In September, Unicorp's and Maury L. Carter & Associates' Fashion Square Land Trust bought the dirt beneath the improvements for $22.9 million, according to Orange County records. The development team is the latest to attempt to resuscitate the 838,865-square-foot mall, which has changed hands at least four times since 2004.

The redevelopment is expected to include:

1,500-1,600 mid- to high-rise apartments
500,000 square feet of retail and restaurants that may include a bowling alley, dine-in theater, indoor karting and high-end arcade
200,000 square feet of office space
A parking garage
A hotel

The future Orlando Fashion Square, which will retain the name, will be built around plush landscaping, gardens and water features. No plans have been submitted to the city of Orlando.

The architect is Orange, California-based Architects Orange, and the engineer is Raleigh, North Carolina-based Kimley-Horn & Associates Inc.

Despite the challenges, a successful project’s payoff could be a big win for Unicorp and Maury L. Carter & Associates. The demographics around Orlando Fashion Square for a mixed-use project are favorable due to the area’s high population density and affluent residents. In addition, there are many families with kids and, with a dearth of nearby entertainment options, the redeveloped mall could attract them, too.

“Fashion Square is one of the greatest potential sites in Central Florida,” retail expert John Crossman, who isn’t involved in the project, previously told OBJ. “That said, it is immensely complicated and is not for the faint of wallet.”

Apartment, retail stats

The eastside apartment submarket, which includes Orlando Fashion Square, has a 9.1% vacancy rate, which is near the Orlando-area average of 8.3%, CoStar Group (Nasdaq: CSGP) reported. In addition, the submarket's average apartment rental rate is $1,343 per month, slightly higher than the Orlando-area average of $1,310, showing demand for apartments.

Meanwhile, the downtown Orlando retail submarket, which includes Orlando Fashion Square, has a 6.9% vacancy rate, which is slightly higher than the Orlando-area average of 5.8%, according to Colliers International Central Florida. That shows demand for retail space in the submarket. In addition, the submarket's average monthly retail rental rates are $29.76 per square foot, well above the Orlando-area average of $18.87 per square foot. That shows demand in the area for new shops and restaurants.

Source: https://www.bizjournals.com/orlando/news/2020/07/06/unicorp-fashion-square-mall-groundbreaking.html

Investment / Development

Maury L. Carter & Associates, Inc.’s major Investment / development projects:

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Apartment, retail stats

Investment / Development

Maury L. Carter & Associates, Inc.’s major Investment / development projects:

Property Locations

Don’t See What You’re Looking For?Contact Us Now

Recent Transactions

Dirt deal

Apartment, retail stats

Don’t See What You’re Looking For?
Contact Us Now