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New tenant moving into long-closed Kmart store

The long-vacant Kmart store at 2210 W. Vine St. in Kissimmee would be divided into three retail spaces, with Planet Fitness (purple) taking 22,500 square feet. Three new outparcels fronting on Vine Street would also be created for future development.
The long-vacant Kmart store at 2210 W. Vine St. in Kissimmee would be divided into three retail spaces, with Planet Fitness (purple) taking 22,500 square feet. Three new outparcels fronting on Vine Street would also be created for future development.(Atkins North America)

A long-vacant big box store on Kissimmee’s Vine Street corridor may finally be showing signs of life.

Seritage Growth Properties has filed construction plans with City of Kissimmee to renovate the shopping center, create additional outparcels and bring in at least one new tenant.

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Seritage has engaged Atkins North America to assist with planning and entitlements for the 20-acre Shops of Osceola retail plaza at 2211 W. Vine St. Currently, the center has one tenant: a 36,380-square-foot Big Lots that will get refresh as part of the exterior renovations. Seritage wants to divide the 101,00-square foot empty Kmart box into three retail spaces.

Planet Fitness is shown on the plans taking the 22,500-square-foot storefront on the eastern end of the building. The new gym would likely replace the existing Planet Fitness a few blocks away in the Plaza del Sol shopping mall.

Planet Fitness is shown as the new tenant for Shops of Osceola.
Planet Fitness is shown as the new tenant for Shops of Osceola.(API Plus)

The two middle boxes are 45,220 and 33,847 square feet, respectively. Seritage may be targeting Conn’s HomePlus for the larger space, according to recent leasing materials. The Texas-based retailer sells furniture, home appliances and consumer electronics. Founder and CEO Norm Miller announced an aggressive Florida expansion last year with plans to open 40 stores in the state.

Conn’s will open a 413,000-square-foot distribution center in Lakeland this August to serve the Florida roll-out. Xebec Realty is the owner and developer of the distribution center.

“From a logistics standpoint, Lakeland is an excellent market to select for the first Conn’s HomePlus distribution center in Florida,” Xebec CEO Randy Kendrick said in a published release. “It’s central to two of the fastest growing metropolitan areas and is a region that has attracted many other top retailers. We’re proud to be part of Conn’s HomePlus entrance into the state.”

Conn’s will open its first Orlando-area store later this year in Colonial Plaza, taking over the site formerly occupied by Floor & Decor.

The site plan for Shops of Osceola also shows three new outparcels fronting directly on W. Vine Street. Two are designed with drive-thru capabilities. Tampa-based API Plus is the project architect, and Orlando-based Aloha Pacifica was tasked with the landscape design.

Learn how much this property owner is investing in demolition and new construction, and what retail tenants have been lined up thus far.

A Sears holding company spinoff, Seritage owns more than 200 retail centers across the U.S. and began an ambitious redevelopment plan for many of its vacant Sears and Kmart box stores in 2018. Some locations, such as the former Sears next to Aventura Mall in South Florida, were razed to allow for mixed-use developments like the new experiential Esplanade at Aventura.

The Kissimmee store falls into the category of mid-sized suburban retail assets that were identified by Seritage last year as having redevelopment potential. According to its year end report, the REIT had begun redevelopment on 91 of the 154 suburban retail assets. But the company put a hold on all construction projects in response to the COVID-19 pandemic and entered into sale contracts for multiple assets totaling $135.1 million, according to its First Quarter financial report.

The Shops of Osceola project is scheduled to go before Kissimmee’s Development Review Committee on May 26.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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