Orion Real Estate Group has completed the redevelopment of a seven-acre property in Orlando’s Belle Isle community that it purchased in 2016 for $2.3 million. After demolishing a shuttered Winn-Dixie grocery store on the property, Orion parceled out the land into three separate lots and leveraged its relationships with a national network of tenants to lease two parcels and sell the third.
One parcel of 1.74 acres was leased to Wawa, which has completed construction of a gas station that includes a 6,000-square foot convenience store. Orion leased the second parcel to O’Reilly’s Auto Parts and subsequently constructed a build-to-suit 7,200-square-foot building for the national retail chain. Orion recently sold the last parcel of 2.34 acres for $1.7 million. Construction of a Crunch Fitness gym has already begun on that site.
“Orlando continues to be an ideal market where we can apply our deep knowledge and relationships to quickly bring added value to existing properties through redevelopment and increased tenant occupancy,” said Joe Sanz, CEO of Orion Real Estate Group.
The team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.