Miami-based Spider Group Corp. is planning a 9,000-square-foot retail strip center in the heart of the U.S. 27 distribution corridor.
The company paid $1 million in 2017 for the 1.8-acre parcel at the southeast corner of U.S. 27 and Dunson Road, next to Cracker Barrel. It's a signalized intersection immediately south of the Four Corners Town Center site that's approved for a regional mall.
CRE broker Alex Casablanca told GrowthSpotter the developers expect to deliver the site by March 2019. They've already had a Level 1 pre-application meeting with Polk County and are now working with Otero Engineering on the site plan and construction documents.
"This is a strategic location," he said. "It has good access to I-4, and it's in a densely populated area. Polk County also has plans to widen Dunson Road."
Dubbed The Shoppes at Dunson Park, current design calls for a four-tenant strip center with a 2,300-square-foot end-cap for a quick-service restaurant with drive-thru.
"My client is open to combining that with the next inside space, for a total of 3,500 square feet, if required by any particular tenant," Casablanca said.
For the right end-cap, they're targeting a medical clinic or retail user.
The site is close to major distribution centers for Walmart, Amazon, FedEx and Best Buy. The owners of the Four Corners Town Center site sought a land use and zoning change last year for another 1.5 million square feet of warehouse distribution space, but Polk commissioners denied the request, saying the site should develop for retail use.
Spider Group is led by Tomas Arana, Alejandro Arana and Carlos Arana. The same investors also paid $3.5 million last year a 20-acre parcel on the north side of Dunson Road that's approved for 275 apartments.
Casablanca said they are all licensed engineers in Puerto Rico and have developed more than 6,000 residential units and five retail shopping centers there. The group currently owns a Net-Leased portfolio with properties in Tampa, Orlando, Jacksonville, Port Orange and Lake Wales.