Upscale bowling alley Pinstripes will open its first Orlando location in the heart of the tourism corridor at the Vineland Pointe shopping center.
The growing “eatertainment” chain has signed on to lease 21,000 square feet in Phase 2 of the shopping center, which is anchored by Target. O’Connor Capital Partners, the owner-developer of Vineland Pointe, has filed updated site plans with Orange County to account for the new, 2-story building. The developer is also in for permits to begin site work for the new Shake Shack and Chick-fil-A restaurants set to rise in that quadrant of the development.
Based in Northbrook, Illinois, Pinstripes combines dining with live entertainment and face-to-face gaming activities, such as bowling and bocce ball. It also features a private event space. The company has targeted Florida as a primary growth market, with new locations slated to open in Tampa, Jacksonville, Aventura and Coral Gables.
Vineland Pointe spans 70 acres at the recently opened Daryl Carter I-4 interchange. O’Connor Capital President Peter Bergner credits John Artope at SRS with closing the Pinstripes deal. A bowling concept was always part of the vision for Vineland Pointe. O’Connor Capital had previously been in negotiations with Lucky Strike for the same location.
Bergner told GrowthSpotter the company is currently redesigning Phase 3 of the center to respond to market conditions. It was supposed to be anchored by Alamo Drafthouse Cinema, which filed for bankruptcy in early March. Other retailers named in prior marketing materials included furniture store Ballard Designs, Sperry, Children’s Place and Build-a-Bear.
The new conceptual site plan scraps nearly 50,000 square feet of inline retail to create three new restaurant pads. The plan is to maintain the space for a dine-in movie theater and create a dining hub around it.
“We’re getting a lot of restaurant interest,” Bergner said. “We still want some type of theater — the closest is at Disney Springs, and next closest on I-Drive. We feel like there’s a gap for a new theater, and with Daryl Carter (Parkway) open now, that’s a game-changer.”
Meanwhile, Boca Raton-based Altman Companies is moving forward with Phase 1 of its Altis Lake Willis multifamily development right next door to Vineland Pointe. The luxury apartment developer has an approved Development Plan for 565 units, and recently applied for site development permits for Phase 1, which comprises 329 units.
Phase 1 also will include the main amenity center and leasing office with residential units above it. It has a resort-style pool with cabanas and outdoor kitchen. The second phase, which adds 236 units, will have its own pool and clubhouse building. The site plan by Kimley Horn also shows a separate amenity building, a dog park and playground. Fitness trails will extend throughout the 34-acre site, with exercise stations encircling the drainage ponds.
O’Connor Capital Partners is also the owner and master developer of the Osceola Corporate Campus, best known as the headquarters for Tupperware and site of the Tupperware SunRail station. O’Connor paid $87 million last year for the Tupperware headquarters and surrounding undeveloped land. Last week, the company sold the Tupperware HQ to Dallas-based Spirit Realty for $43 million.
Douglas Mandel of Institutional Property Advisors along with Barry M. Wolfe, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office, represented the seller and procured the buyer.
“This sale is further evidence of the strength of the single-tenant market. Both private-party and institutional investors continue to favor the single-tenant asset class, with assets in Florida drawing particularly strong interest,” said Wolfe.