Kissimmee’s latest shopping center could add over 400,000 square feet of new retail space to the thriving LOOP shopping district along Osceola Parkway.
Tampa-based Ocean Bleu Group met with the city’s Development Review Committee for nearly two hours on Tuesday to go over the Site Plan and Preliminary Plat with the goal of bringing them to the City Commission in January. The site plan identifies 23 retail buildings – everything from a gas/super convenience store to restaurants to big boxes as large as 80,000 square feet.
Ocean Bleu President Bryan Schultz told GrowthSpotter he’s lined up tenants or buyers for all but one of the 10 outparcels fronting on Osceola Parkway between Dyer Boulevard and Thacker Avenue and expects to wrap up the leasing by mid-December. Five of the outparcels are designated for full service restaurants and another two for Quick Service Restaurants.
A preliminary site plan shared with the city showed Dick’s Sporting Goods taking a 50,000-square-foot space, with City Furniture and Floor & Decor each taking 80,000 square feet. Schultz confirmed he has been in discussions with the retailers but said none has a signed lease.
“I’m talking to five different furniture companies,” he said. He’s also looking for a grocery store tenant to fill one of the big box spaces.
The location has been a target for City Furniture ever since the South Florida retailer announced its entry into the Orlando market in 2015. The plan also identifies a 22,500-square-foot medical office building facing Thacker.
Schultz said Ocean Bleu would be responsible for horizontal development, and the company may develop a few multi-tenant retail buildings. But the bulk of the shopping center would be built and owned by the retailers, which would either have ground leases or buy their lots.
The 35-acre multifamily site between the shopping center and the Ball Park Road extension, which approved for 320 units, would also be sold to an outside developer, Schultz said.
The project falls within the Flora Ridge Mixed-Use Planned Unit Development, one of Kissimmee’s most desirable apartment submarkets because of the plethora of shopping nearby and easy access to major highways. Fore Property Company has already developed four communities on lands formerly owned by Tupperware.
Epoch Residential purchased the 74 acres immediately south of the project last year and is currently building the first two phases of a three-phased project entitled for 788 multifamily units. Phase 1 is a 296-unit Class A apartment community with a combination of 4-story elevator-served buildings and 3-story walk-up garden apartments. Phase 2 will be a separate 152-unit active adult community. The third phase is approved for either an assisted living facility or a 232-unit apartment complex.