Westgate Resorts is readying a handful of stand-alone retail developments for isolated land parcels it owns in Orange County.
The company filed a Development Plan on Tuesday to build a 1,089-square-foot retail building on 1.16 acres at 14950 Arrena Road, which lies on Orange County's southern border near the intersection of S.R. 545 and U.S. 192, in the Four Corners area.
Acquired in 1998 for $1 million, the property is surrounded now mostly by single-family residential and undeveloped land earmarked for the sprawling hospitality sector, including AD1 Global's plans for a trio of hotels on 57 acres roughly a half mile west on Bali Boulevard, Community Health Systems' plans for an emergency care center near that, and the 186-unit West Lucaya Village Resort vacation townhome project.
The Arrena Road project will be an intersection corner site for a single tenant, possibly a tourist information center, restaurant or other retail brand from Westgate's own portfolio, COO Mark Waltrip told GrowthSpotter.
Westgate affiliate Central Florida Investments, Inc., which owns the property in question, began as a real estate development firm in 1970 but now operates an array of businesses other than the timeshare resorts, including restaurants, retail, destination spas, insurance, magazines, travel services and more.
"We're a large conglomerate. In addition to our resorts we have retail properties all over the country, anywhere from 1,000 to 20,000 square feet," Waltrip said. "We own fuel stations and convenience stores both on and off our resort properties, and also have more than 50 restaurants, bars and entertainment facilities."
Westgate's own restaurant/retail division manages all of its proprietary dining, retail and spa brands. Most are opened within its resorts, but the company has some at the Cocoa Beach Pier, which it owns and operates.
This is one of two stand-alone retail sites in west Orange County that Westgate is in the process of developing, with another two in the pipeline, Waltrip said. A fifth in Las Vegas is being developed for an 18,000-square-foot retail center and fuel station.