An affiliate of developer Brandon Partnersis leading 18 acres in Apopka through rezoning and entitlements for client Publix Supermarkets, Inc., which has the site under contract at a Wekiva Parkway interchange with plans for a retail center and future dense residential options.
Located in northwest Apopka at 4966 Plymouth Sorrento Road, the 18.13-acre parcel lies directly east of the future 1B section of the new Wekiva Parkway (S.R. 429) that is projected to open this spring, and a new interchange there on W. Kelly Park Road.
Hundreds of acres are expected to be developed for new housing and neighborhood commercial in the coming years in the immediate vicinity of that interchange.
The project is being led by Brandon Partners' affiliate Pasadena Capital, Inc., which has a rezoning request under staff review, and a new Preliminary Development Plan going before Apopka's Development Review Committee on Wednesday.
Lakeland-based Publix has a purchase option on the 18 acres, would develop the eastern half in Phase 1 for the retail center, and has shown multifamily interest or dense residential development for the western half, according to city spokesman Robert Sargent.
Dubbed the "Kelly Park Road Publix Center," plans for Phase 1 call for 68,231 square feet of retail-commercial across four sub-phases as market demand applies.
The first building would be a 46,031-square-foot Publix supermarket as anchor, followed by two adjacent standalone outparcel buildings of 3,000 and 6,000 square feet each, then two multi-tenant retail buildings of 7,200 and 6,000 square feet each.
A final 0.9-acre outparcel is reserved for future development on the hard corner. The western 7.33 acres is being reserved for future options, and was left blank on the new PDP.
Closing on the property and development of Phase 1 may not occur until early 2019.
The parcel's biggest value lies in its visibility along two main thoroughfares, spanning the width of Kelly Park Road from the future S.R. 429 off-ramp to Plymouth Sorrento Road (C.R. 437), said Matthew Edmiston, leasing director with Equity Investment Services, which is marketing the property for the family behind land owner J.D. and Kathleen L. Horne Trust.
The property will require rezoning, but lies within the Wekiva Parkway Interchange Plan and should accommodate retail, medical office or multifamily by the city.
Brandon Partners has a history of being a preferred developer for Publix on new shopping centers and rehabilitation of older properties where it is the anchor tenant across Florida.
Publix has been buying or reacquiring more of its store properties in Greater Orlando in recent years, including one in downtown Orlando in late 2015, and a 10-acre site in Chuluota in January 2016.
The property lies directly south of another 107 acres now under rezoning review with large-scale residential and commercial developers taking interest, which are also being drawn to the new Wekiva Parkway interchange.