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Tyson’s Corner in Lake Nona to break ground soon, signs on ALDI among others

Tyson's Corner is a planned retail development at the northeast corner of Tyson Road and Narcoosee Road, adjacent the Lake Nona and Medical City communit.
Tyson's Corner is a planned retail development at the northeast corner of Tyson Road and Narcoosee Road, adjacent the Lake Nona and Medical City communit. (SRS Real Estate Partners)

Plans for Tyson's Corner, a new 72,850-square-foot retail plaza proposed in the heart of Orlando's Narcoossee-Lake Nona submarket, are starting to take shape.

Clearwater-based Epic Development expects to break ground next month, leasing agent Blake Hunter, of SRS Real Estate Partners, told GrowthSpotter.

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The groundbreaking would follow list of new tenants securing contracts at the plaza at 10113 Tyson Road, including the German grocer ALDI, Goodwill Industries International and the quick-service fast-food sandwich chain, Arby's.

Other tenants that have inked leases at Tyson's Corner include nail salon, Organic Nail Bar; outdoor kitchen and grill company, Paradise Grills; beauty and wellness salon collective, Porte Noire; and Bento Asian Kitchen + Sushi, a quick-casual pan-Asian restaurant chain.

The ALDI supermarket will rise on a 2.18-acre lot within Tyson Corner and span 19,595 square feet, according to construction plans filed in the South Florida Water Management District.

Hunter said only about 3,200 square feet remain unleased. Avid Group is Epic's civil engineer on the project.

The 9.7-acre Tyson Corner property lies on the northeast corner of the Narcoossee and Tyson Road intersection, just across Lake Nona High and north of Eagle Creek, where developer Emerson International is building a 1,200-acre m aster-planned community with 3,000 residential units surrounding a championship 18-hole golf course.

Plans also allow for up to 150,000 square feet of retail, 50,000 square feet of office and a hotel development. Just last week, Emerson filed a Preliminary Review Item in Orange County, to discuss bringing a 168-key dual-branded Hilton hotel at the master-planned community.

Epic Development paid $9 million for the Tyson Corner property in June 2018, and shortly after scored a roughly $13.4 million loan from Centennial Bank. The seller was an entity led by James Ekbatani, the founder CEO and chairman of the Healthfair Foundation.

Ekbatani's affiliate, Lake Nona Holdings LLC, originally owned about 43 acres on that northeast corner. The company began phased development of the property in 2016 with the sale of 15 acres to luxury multifamily developer Bainbridge Companies, which opened its 288-unit "Bainbridge at Nona Place" apartment complex along Lake Whippoorwill last year.

Ekbatani also swapped land with the Diocese of Orlando, giving the religious group control of a 4.6-acre, pad-ready parcel within the property for the development of a church.

Local orthodontist Dr. David Lach is planning a 15,000-square-foot medical office complex on a 1.35-acre parcel also within the original 43 acres Ekbatani owned. That parcel traded hands for $1 million in 2017.

Southwest of the Tyson-Narcoossee intersection, Blackfin Partners and North American Development Group are developing a 70,000-square-foot neighborhood shopping center, anchored by grocer Earth Fare and Pet Supermarket.

In 2017, Tavistock Development Company opened Lake Nona Landing, a nearby 52-acre retail complex along Narcoossee Road that features 596,000 square feet of retail, restaurant and office space.

The retail complex is anchored by Wal-Mart and Sam's Club. Other tenants include TJ Maxx, Crunch Fitness, Chili's, Pollo Tropical, Jeremiah's Italian Ice, Rise Pies Handcrafted Pizza and Panda Express.

The Tyson Corner site lies east of Medical City, which is poised to have more than 12,000 onsite students and 40,000 residents by 2020.

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Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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