xml:space="preserve">
xml:space="preserve">
Advertisement

Ripley Entertainment affiliate pays $3.3M for 21 acres on S. John Young Pkwy.

Highlighted in blue, the 21 acre parcel bordering S. John Young Parkway lies directly east of the Rosen Shingle Creek Resort, and just north of an intersection with the Beachline Expressway.
Highlighted in blue, the 21 acre parcel bordering S. John Young Parkway lies directly east of the Rosen Shingle Creek Resort, and just north of an intersection with the Beachline Expressway. (Orange County Property Appraiser)

An affiliate LLC of Jim Pattison Group, owner of Ripley Entertainment Inc. that's headquartered in Orlando, paid $3.3 million on Nov. 13 for a 21-acre parcel on S. John Young Parkway. The land could be intended for a new headquarters and archives building for the company, local real estate investors and brokers have told GrowthSpotter.

Ripley Entertainment's headquarters and archives currently occupy 40,000 square feet of leased space in an industrial park at 7576 Kingspointe Parkway. It's located just east of Tangelo Park and north of W. Sand Lake Road, about three miles northwest of the newly-purchased property.

Advertisement

The vacant, industrial-zoned parcel bought last week lies at the southeast corner of the Commerce Park Drive-S. John Young Parkway intersection.

Of its 21 gross acres, 4.6 are retention ponds now, and the parcel has served as the base of a master storm water retention system for the Southridge Commerce Park that lies to the parcel's northeast. That commerce park is also the subdivision this parcel falls within.

Development of this property for vertical construction may require a recalculating of that property's storm water retention system, a process that could be expensive, said John Smogor, planning administrator for Orange County Government.

Ripley Entertainment operates 95 attractions under a dozen brands around the world, which include Believe It or Not! Odditoriums, aquariums and Guinness World Records museums.

Principals with Ripley Entertainment did not return calls and e-mails requesting comment on Thursday about plans for the property.

The parcel's seller is an affiliate of Flagler Development Group, itself an affiliate of Florida East Coast Industries out of Coral Gables.

Cushman & Wakefield represented the seller in the deal, while the buyer affiliate of Jim Pattison and Ripley Entertainment was represented by KR Properties.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Advertisement
Advertisement