The operator of a popular child care center purchased the unit it was leasing in the University Village Plaza retail center, ensuring it will remain at the Clermont location after the owner put the rest of the property up for sale.
LBRE 3 LLC bought Unit A of the plaza from Clerlady LLC for $4.05 million, according to deed documents filed this week with Lake County. The buyer's acronym represents Ladybird Real Estate, reflecting the Ladybird Academy at the University Village site, 2400 State Highway 50.
The sale comes with a $3.4 million mortgage to IberiaBank.
"We've been renting the space, and the owner decided to sell, so we as the tenant are buying the space back," said Miguel de Arcos, managing partner with Central Parc Development and Property Management. "We just literally bought it from our landlord to continue with our child care strategy."
Central Parc is a boutique developer of Class A retail centers, single tenant retail, small office/medical parks and daycare facilities that it operates throughout Florida. It is based in Maitland.
The daycare division of the business is flourishing, de Arcos said, with the Clermont location at full capacity of 190 children and a waiting list. Central Parc also has Ladybird franchises in Longwood, St. Johns, Jacksonville and Orange Park with several more in the planning stages.
The Ladybird parent company, based in Lake Mary, has 24 day care centers open or about to open, most in central Florida, with one in Texas.
Central Parc's Clermont academy has been in the 12,533-square-foot unit at University Village Plaza since 2015. "It's a great location," de Arcos said. "It's one of our best schools. The Clermont area is booming with new homes, and with new homes you need more child care, more dry cleaners, more dentists, etcetera, etcetera."
He doesn't expect changes to the facility. "It was an opportunistic move, but we're not going to do much to the school other than continuing to maintain a Class A day care facility," he said.
In addition to his duties with Central Parc, de Arcos is a broker and partner with Millenia Partners, an Orlando-based commercial real estate firm with six offices throughout the South.