The Barclay Group will start construction early next year on a 75,000-square-foot shopping center in Osceola's fast-growing Poinciana area.
The Palm Harbor-based developer paid $1.5 million to buy the 14-acre site at the intersection of Cypress Creek Parkway and Old Pleasant Hill Road from AV Homes. The firm is in the final permitting stages for Shoppes at Poinciana, which will be anchored by a 22,000-square-foot "junior box" retailer.
"We love Poinciana and look forward to bringing a first class retail shopping center to the market," Tony Tanico, executive vice president of development for Barclay Group's Florida division, told GrowthSpotter. "Poinciana has great fundamentals - Hospital, Poinciana Parkway, Valencia College - driving its continued growth and we are excited to be a part of it."
Tanico said the project will be developed in two phases. The first phase, which is expected to open in Summer 2016, is a 12,000-square-foot multi-tenant building on one of the outparcels. The building is already 60 percent leased by UBreakIFix,Mattress Firm and Verizon.
Barclay will also complete site work for the entire property, intersection improvements and signal installation during phase one, he said.
Barclay Group is a full-service, integrated real estate firm that develops, leases, and manages commercial and residential properties from large power centers to master-planned communities. The firm has joint ventured with many national home builders such as Ryland Homes, MI Homes, Lennar Homes, KB Homes, and Taylor Morrison Homes.