Development Equity Partners paid $650,000 on Wednesday for a one-acre parcel in northeast Orange County. Ground should break next week on the site for a new Dollar Tree, the general contractor is still hiring subcontractors, and DEP is actively seeking more land for a bevy of retail clients, a partner with the company told GrowthSpotter.
Located at 14524 E. Colonial Dr., the 1.07-acre parcel lies southwest of the E. Colonial Drive-N. Avalon Park Boulevard intersection, directly south of the Fairway Village golf course.
With building permits in hand, DEP expects general contractor CCS Construction to break ground Monday on a 10,000-square-foot free-standing Dollar Tree. Construction on the $2 million project could be finished in June, said Kyle Brown, partner with DEP affiliate Avalon DT Investors, which is developing the project.
CCS Construction is still accepting subcontractor bids for all aspects of the project, Brown said. Civil engineer on the project is Avid Engineering Services, and Interplan is the architect.
DEP develops a lot of build-to-suit, single tenant net lease properties, with several new Dollar Tree and Dunkin Donuts stores in the pipeline for construction in Greater Orlando this year, Brown said. The company has worked with a variety of national retail clients.
Looking forward, DEP is actively searching for one- or two-acre parcels to acquire for its retail clients. "We love hard corners, and would even buy 10- to 20-acre parcels for community retail centers," Brown said. "Anything retail-oriented, we're interested in looking at."