An entity led by the CEO and president of California-based Prospera Hotels, Ajesh Patel, just paid $5 million for land near Orlando World Center Marriott that features plans for a commercial plaza.
The 2.35-acre site at 14344 S.R. 535 is being entitled to consist of 6,900 square feet of office, 7,000 square feet of retail and 6,200 square feet of restaurant uses. Conceptual renderings of the project depict a two-story, roughly 20,000-square-foot building with a rooftop terrace.
The seller, World Center Plaza LLC, is led by Nizamuddin Khan. Records show the property previously traded for $725,000 in 2018.
The site was home to the former sales center for Marriott Vacation Club.
In 2004, the timeshare company sold the land to Orlando Realty Sales Center LLC for a little more than $1.5 million. The structure on site was demolished in 2012.
World Center Plaza LLC submitted a Development Plan in Orange County last year seeking allowances to construct the commercial plaza. In doing so, it also authorized Patronus Investments, led by Ather Khan and Nizam Khan, to act as its agent.
Robert T Haug, the project’s structural engineer, provided the elevations. Shridhar Rao of LandSmart Consultants is the engineer.
It’s unclear whether the project will still be developed.
Currently, the property pinched between World Center Drive and S. Apopka Vineland Road sits within the Marriott World Center PD on a tract called Parcel D.
Last year, Orange County’s Development Review Committee recommended approving plans submitted by Patronus Investments to convert the site’s previous entitlements, which allowed for 42,000 square feet of office or 19,000 square feet of amusement uses.
The most recently submitted DP for the commercial plaza is still seeking DRC approvals.
It’s unclear whether the buyer, RESI LBV LLC, will go through with development plans. Patel was not immediately available to comment, nor was Nizam Khan.
Less than a mile south of the property, a 15,000-square-foot retail plaza is being developed by Marwan Kaddoura. Dubbed the Kadmar Plaza, the project will feature at least 10 retail bays that each average about 1,500 square feet.