47.12 AC RETAIL/ MULTIFAMILY LANDRINEHART ROAD & ST JOHNS PARKWAY NEQ, SANFORD, FL 32771
FOR SALE
WALMART SUPERCENTER
GATEWAY PLAZA
PARCEL 116.78 AC
PARCEL 230.34 AC
SEMINOLE TOWNE CENTER
MALL
MARKETPLACE AT SEMINOLE TOWNE CENTER
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SANFORD INFINITI
COURTESY/ AUTONATION
ACURA
AUTONATION HONDA
SANFORD
MERCEDES-BENZ OF NORTH
ORLANDO
DAVID MAUSCHEVROLET
DAVID MAUSTOYOYA
COLONIAL TOWN PARK
FIELDS CHRYSLER JEEP
DODGE SANFORD
AUTONATION FORD
SANFORD
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CREEKSIDE CENTER – RINEHART / ST JOHNS NEQ – SANFORD, FL
Total Acreage 47.12
Potential RetailParcel
Size and dimensions are flexible and subject to developer plan
Dimensions Flexible
ZoningPD Planned Unit Development (see comments on Page 3 about past development approvals)
Future Land Use
WIC – Westside Industry & Commerce – aimed at promoting a regional employment center along the State Road 46 corridor. Permits a mix ofcommercial, office and residential land uses. Maximum FAR is .50 and maximum residential density is 20 units / acre.
Electric Florida Power & Light
Sewer City of Sanford
Potable Water City of Sanford
Telephone Bellsouth
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PROPERTY OVERVIEW
SITE
The subject property is identified as being in Flood Zone A as identified by Flood Insurance Community Panel No. 12117C0065F, dated September 28, 2007
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Parcel 1 Parcel 2
Parcel ID 28-19-30-506-0000-0250 28-19-30-506-0000-0270
Acreage 16.78 30.34
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ORIGINAL CREEKSIDE CENTER PD MASTER PLAN
Indication of Development Potential
In 1993 the property was rezoned to PlannedDevelopment (PD) by City of Sanford OrdinanceNo. 3117. In 1999 the Paulucci Upsala RoadPD Master Plan was submitted (City of SanfordOrdinance No. 3499 was adopted). This PDMaster Plan provided cross easements extendingfrom Rinehart Road through the property toUpsala Road, 16+/- acres of self-storage units,office showrooms, other allowed uses in the Rl-1zoning classification, and up to 424 multifamilyunits on 30.34 acres. The County’s storm-waterponds were shown on the plan where they stillare today, knowing that they can be relocatedanywhere on the property under the agreementreached with the Seminole County Board ofCounty Commissioner in 1992.
Later, Creekside Center, a mixed use project,was approved in 2007. Creekside Centerincluded over 1,000 multifamily units (at adensity of 25 units/acre) and 52,000 sq. ft. ofcommercial space. Development of CreeksideCenter required mitigation of on-sitejurisdictional wetlands and surface waters. At thetime the owner obtained a permit from St. JohnsRiver Water Management District to accomplishthe mitigation needed.
Even though both of these PD’s have expired,they provide an indication of the various landuses and densities that have been submitted andapproved for development in the past for theproperty.
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CONCEPTUAL SITE PLAN
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NOT A PART
NOT A PART
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PARCEL 116.78 AC
PARCEL 230.34 AC
SEMINOLE TOWNE CENTER MALL
COLONIAL TOWNPARK
WESTERN BELTWAYQ2 2020
WALMART
DOWNTOWN SANFORD
WALMARTSUPERCENTER
HEATHROW COUNTRY CLUB
SUBMARKET AERIAL
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WALMART SUPERCENTER
SEMINOLE TOWNE CENTER MALL
RETAIL SUBMARKET AERIAL
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SUPERIOR SHOPPING/DINING/LIFESTYLE OPTIONS NEARBY
The site boasts easy access to top demand drivers nearby including Colonial TownPark at Lake Mary, which includes Class “A” office space, a Westin Hotel,
AmStar Cinema, Publix, and upscale dining options like Shula’s, FishBones, Dexter’s, Amura Sushi, and Ruth’s Chris Steakhouse. Additionally, the property is
within walking distance of the Seminole Towne Center, a 1.2-million-sq.-ft. enclosed shopping mall featuring 120 stores and world-renowned tenants such as
Macy’s, JC Penney, Dillards, Dick’s Sporting Goods, and H&M.
NEAR MANY OF ORLANDO’S
FINEST RETAIL AND DINING
Within a 5-minute Drive of:
- 2 movie theaters;
- 4 grocery stores;
- 4 hotels; and
- Numerous high-end dining choices.
ColonialTown Park at Lake Mary,
Seminole Towne Center Mall, and
Marketplace at Seminole Towne
Center comprise the primary retail hub
in Seminole County.
These three projects combine to
represent nearly 2 million SF, and
boast upscale restaurants and retailers
including Ruth’s Chris, Shula’s Steak
House, FishBones, Panera, Macy’s,
AmStar Cinemas, Publix, Dexters, and
Amura Sushi.
shop
dine
lifestyle
SANFORD/LAKE MARY SUBMARKET
Creekside is located in the Sanford/Lake Mary area of Seminole County, less than five minutes from the metro’s highest concentration of white collar employment outside of the Orlando CBD.
Highlights Include:
• Lake Mary is a hub for communications, technology, and finance companies.
• 7MM Sq. Ft. of Class “A” office space in the Lake Mary/Heathrow office submarket. Major employers: AAA (global HQ); Convergys; Chase; Symantec; BNY Mellon; Central Florida Regional Hospital; Mitsubishi-Hitachi Power Systems (North American HQ). Noteworthy ownership includes DRA Advisors, Banyan Street Capital and Equity Partners.
• Phenomenal employment growth – Verizon is adding 750 jobs in their new $50MM accounting center, and Deloitte recently leased 130,000 sq. ft. here to house over 1,000 new positions with an average annual salary of $61,000.
• Piedmont Office Realty Trust recently broke ground on a new 135,000-sq.-ft. office building less than 1-mile away from the property that will be anchored by Continental Casualty Co. (CNA), taking over 100,000 sq. ft. of the new building.
• Additional plans by Piedmont call for a large mixed-use development called “TownPark Commons” to include: 800,000 SF of Office space; 250-room Hotel; 94,000 SF of Retail; and Structured parking for 3,960 cars.
Piedmont’s New 135,000-sq.-ft. “500 TownPark” Office Building Under Construction
TOP EMPLOYERS IN THE AREA
Company Name Industry Employee Count
Convergys Semiconductor Mfg 2,500
Chase Card Services Business Services 2,000
Deloitte Information Technology 1,000
Central FL Regional Hospital Healthcare 900
Symantec Technology 800
Verizon Business Services/Tech 750
AAA Business Services 689
Pershing Financial Services 670
The Hartford Insurance 650
CFE Credit Union Financial Services 433
Sungard Public Sector Administrative 383
American Pioneer Life Insurance 300
Fiserv Wholesale Trade 300
Siemens Communications 300
Marriott Hospitality 208
Liberty Mutual Insurance 100
Deloitte’s New Offices in Lake MarySTRONG WHITE-COLLAR EMPLOYMENT GROWTH
LAKE MARY / HEATHROW / SANFORD
Creekside is located in the Lake Mary / Heathrow / Sanford submarket, one of Orlando’s top white-collar employment hub.
STRONG LOCATION
The Lake Mary / Heathrow / Sanford submarket is a dynamic area within Orlando that boasts convenience, affluent residents and leading employment growth rates.
The region is quickly gaining national recognition as a place for stellar job growth and as a great place to live. Neighborhoods here have developed rapidly over the past ten years as growth from Orlando continues to push north. There are several high-quality office, retail, and residential developments which have made the submarket one of the most desirable in the Southeast.
In fact, Lake Mary/Heathrow/Sanford has the MSA’s largest concentration of Class “A” office space outside the Orlando CBD. It is also designated as a ‘targeted industry district’ to support and promote economic development. Not surprisingly, the area continues to draw attention as a premier locale for business relocation and investment in Central Florida.
EXCELLENT ACCESS TO METRO ORLANDO
Creekside provides exceptional convenience and ease of access to all that Orlando has to offer. Whether it be in Lake Mary, Sanford or the greater Orlando metro area, few competitors can match this superior location. It provides direct routes to local employment hubs as well as some of the finest shopping and dining selections Orlando has to offer. The property also offers excellent access to:
• Interstate Highway-4 “I-4” (Downtown Orlando/Area Theme Parks)
• S.R. 417 (University of Central Florida/Orlando International Airport)
• S.R. 528 (Orlando International Airport/Beaches)
• Florida’s Turnpike (North & South Florida Locations)
3.4% Effective Rent Growth in the Lake Mary/Sanford Submarket in 2016(Source: AxioMetrics)
MAJOR EMPLOYERS ARE EXPANDING
Diverse and growing employment opportunities provide for a strong tenant pool in this submarket of the Orlando metro area. Job growth is currently the big story in Orlando, and the companies expanding in this submarket are national and global firms that are bringing higher-paying, white-collar jobs to the area.
Most recently, CNA insurance agreed to lease over 100,000 sq. ft. in a new 135,000-sq.-ft. office building being constructed by Piedmont Office Realty Trust (NYSE: PDM) at Colonial TownPark, just 3.2-miles from Creekside.
Additionally, Mitsubishi-Hitachi Power Systems announced that the company is re-locating its North American headquarters to the Lake Mary / Sanford area of Orlando. This news will expand the multi-national industrial firm’s current presence in the region and add over 100 new high-paying jobs over the next five years.
Verizon opened a new 220,000 SF, $50 million finance and accounting headquarters in 2014 called the “Center of Excellence”
LAKE MARY / HEATHROW / SANFORDJob growth is the big story in Orlando right now and Creekside is well-positioned to take advantage of this significant trend.
Deloitte opened a new 130,000 SF U.S. Delivery Center in late 2014 which is slated to create more than 1,000 new high-wage jobs.
Most recently, global technology brand Mitsubishi-Hitachi announced the relocation of their North American headquarters to Lake Mary after signing a lease for over 75,000 square feet at 400 TownPark.
8.8 million SFof Office space
9.4 million SFof Retail space
WITHIN 5-MILE RADIUS:
DISTANCE TO:
Seminole Towne Center Mall............... 1.0 mile
Central Florida Zoo.............................. 3.1 miles
Colonial TownPark............................... 3.2 miles
Lake Mary-Heathrow Office Park..... 3.5 miles
Sanford Riverwalk................................ 4.4 miles
Lake Mary SunRail Stop....................... 5.3 miles
Orlando-Sanford Int’l Airport.............. 9.2 miles
Downtown Orlando.............................. 21.4 miles
Daytona Beach..................................... 33.0 miles
Walt Disney World............................... 37.5 miles
LAKE MARY / HEATHROW / SANFORD
TRANSPORTATION AND EDUCATION IS READILY AVAILABLE
A growing population driven by strong white-collar job creation supports additional upscale retail, education and infrastructure development. Creekside is well-positioned against its competitive set due to its quality location with superior access to major highways (I-4 and S.R. 417) and Orlando’s newest mass transportation system called “SunRail.”
SunRail is a 31-mile public commuter rail line providing train service from DeBary in the north metro area down to Sand Lake Road in South Orlando. The property is located 7.5 miles from the Lake Mary SunRail station, providing service to Downtown Orlando’s Central Business District and beyond.
Additionally, higher education options are easily accessible from the Lake Mary / Heathrow / Sanford area. The University of Central Florida, the nation’s second largest public university by enrollment is just 20-minutes from the property. Meanwhile, Seminole State College of Florida, a public state college, is just 9.4 miles away and Full Sail University, a specialized audio/video/film production school is located in Winter Park, just 20-minutes away from the site.
AFFLUENT RESIDENTIAL DEVELOPMENTS
The Lake Mary / Sanford area is home to some of Orlando’s most exclusive residential neighborhoods as a result of its proximity to white-collar employers. The neighborhoods of Heathrow, Alaqua Country Club, Timacuan, and Magnolia Plantation all boast upscale golf courses, while Lake Markham Preserve, Bella Foresta, Estates at Wekiva Park, and Heathrow Woods border the Wekiva River basin, providing residents a serene setting where they can see abundant wildlife including deer, turkey, and bears.
COMMUNITY NAME LOCATION HOME VALUES
Lake Markham Preserve Sanford up to $3,000,000
Alaqua Country Club Lake Mary up to $3,000,000
Heathrow Woods Lake Mary up to $2,200,000
Lake Forest Sanford up to $1,800,000
Heathrow Lake Mary up to $1,500,000
Bella Foresta Sanford up to $1,100,000
Magnolia Plantation Lake Mary up to $900,000
Estates at Wekiva Park Sanford up to $800,000
Timacuan Lake Mary up to $600,000
“SunRail” Commuter Rail System
ORLANDO SANFORD INTERNATIONAL AIRPORT
The Orlando Sanford International Airport is undergoing a $43-million expansion project that will add new gates, baggage carousels and security lanes over the next few years.
In the prior year, the airport handled nearly 2.5 million passengers, an increase of nearly 14% y-o-y. By 2018, the airport’s annual passenger count is expected to jump by another 200,000 fliers, and up to 3 million by 2030.
WORLD-CLASS SHOPPING & DINING
Located just 1-mile from the property is the Simon-owned Seminole Towne Center, a 1.2 million square foot climate controlled indoor mall featuring over 120 stores. As the main shopping destination for Seminole County, the Seminole Towne Center boasts a large selection of retailers ranging from high-end jewelers to women’s apparel to sporting goods and even a 10-screen United Artists movie theater. It is anchored by Macy’s, JC Penney and Dillard’s. Adjacent to the mall is the Marketplace at Seminole Towne Center, a regional retail power center anchored by a Super Target and featuring national retailers such as Old Navy, Marshalls, PetCo, and many others.
A few miles southwest of Creekside is Colonial TownPark, a mixed-use center consisting of 200,000 SF of retail and 870,000 SF of Class “A” office. It is home to numerous upscale restaurants and fine dining selections such as Shula’s Steakhouse, Ruth’s Chris Steakhouse, Amura Sushi, and Dexter’s.
LAKE MARY / HEATHROW / SANFORDThe Creekside site is located just minutes away from exceptional shopping and fine-dining selections.
SEMINOLE TOWNE CENTERExceptional 1.2 MM SF within Walking Distance
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PARCEL MAP – PROPERTY APPRAISER
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AERIAL – PROPERTY APPRAISER
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2016 Estimated Demographics
1 mile 3 miles 5 miles 7 miles 10 miles
Population 7,312 50,439 116,153 173,884 318,932
Pop Growth 5 Year Projection 8,090 54,566 124,570 185,611 337,041
Average Household Income $62,657 $80,070 $79,584 $79,900 $74,696
Median Household Income $50,996 $57,723 $54,576 $55,825 $53,248Households with income over $50,000 686 3,621 7,739 12,266 23,557Households with income over $75,000 398 2,469 5,321 8,371 15,101
Population College Educated or Higher 2,111 16,694 35,177 51,877 91,056
Daytime Population (Employees) 14,794 36,373 72,489 88,895 143,636
Business Establishments 1,059 2,544 5,857 7,747 13,923
1 mile
3 miles
5 miles
7 miles
10 miles
RADIUS RING DEMOGRAPHICS
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2016 Estimated Demographics
5 minutes 10 minutes 15 minutes 20 minutes
Population 19,464 96,241 223,325 420,276
Pop Growth 5 Year Projection 21,388 103,599 237,466 445,441
Average Household Income $72,813 $76,053 $77,444 $74,976
Median Household Income $55,409 $53,249 $54,425 $53,980Households with income over $50,000 1,746 6,857 16,104 32,252Households with income over $75,000 1,158 4,474 10,606 19,936
Population College Educated or Higher 6,429 28,820 65,942 126,342
Daytime Population (Employees) 25,580 62,959 113,117 220,700
Business Establishments 1,750 5,332 10,154 20,342
5 minutes
10 minutes
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20 minutes
DRIVE TIME DEMOGRAPHICS
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© 2017 CBRE, Inc. All rights reserved. This information has been obtained from sources believedreliable, but has not been verified for accuracy or completeness. Any projections, opinions, orestimates are subject to uncertainty. The information may not represent the current or futureperformance of the property. You and your advisors should conduct a careful, independentinvestigation of the property and verify all information. Any reliance on this information is solely atyour own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or relatedcompanies in the United States and other countries. All other marks displayed on this document arethe property of their respective owners. Photos herein are the property of their respective owners anduse of these images without the express written consent of the owner is prohibited.
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CBRE, Inc. | Licensed Real Estate Broker200 S. Orange Avenue | Suite 2100Orlando, FL 32801 www.creeksidecbre.com
DOWNTOWN SANFORD
N
WALMARTSUPERCENTER
RETAILERS
EMPLOYERSCOLONIAL TOWNPARK
RETAILERS
EMPLOYERS
SEMINOLE TOWNE
CENTER MALLWESTERN BELTWAYQ2 2020
SITE
HEATHROW COUNTRY
CLUB
ALAQUALAKES
MAYFAIR COUNTRY
CLUB
TIMACUANGOLF CLUB