Dallas-Based Victory Real Estate Group Enters Orlando Market with Land East of Winter Park

Dallas-based developer Victory Real Estate Group paid more than $2.27 million on July 21 to enter the Orlando market, buying land east of Winter Pines Golf Course for what will likely be a multi-tenant commercial building.

Located in the 2200 block of N. Semoran Boulevard at the southeast corner with Hanging Moss Road, the property lies just east of Winter Park city limits and across the street from Lakeview Office Park.

The 3.4-acre undeveloped parcel was sold by National Bank of Commerce, which controlled the asset after acquiring the former Riverside Bank of Central Florida, which previously bought the land in 2006 for $1.85 million.

Victory Real Estate Group is a high-volume developer of mixed-use and built-to-suit commercial mostly in the Dallas-Fort Worth area, but in the past year has started pursuing other types of development and entering the South Florida market.

“This is one of a few new properties we’ve purchased for retail and built-to-suit opportunities,” president and CEO Tony Ramji told GrowthSpotter. “We bought this on spec and have multiple users interested, we’re just thinking now about the best uses and are very much in preliminary stage on the property.”

One development route could be to sell or lease a restaurant pad to a national chain, and build a small multi-tenant retail building. The company has a handful of LOIs for the property and is evaluating the right fit, Ramji said.

Bowman Consulting has been hired as civil engineer, and the developer has yet to hire an architect.

“We hope to have our first deal signed in the next couple of weeks and then proceed from there,” he said.

“I’m pleasantly surprised with how robust the Orlando market is. We’re doing projects in Phoenix, Denver, the Carolinas and other big cities, and when I came to Orlando I find it has recovered well from the recession, premiums are priced into the market,” Ramji continued. “I think you have to have a lot of experience to come in and do spec development. I think there’s a perception by people in the southwest that Florida still had all these opportunities, but I find you can’t come in (here), make a mistake and expect to make money.”

The buyer took out a $2.42 million loan from Stonegate Bank to help finance the land and future development.

Thank you: GrowthSpotter

Winter Springs Land Going to the Dogs!

PetSuites plans Florida market entry via Winter Springs, land under contract

PetSuites of America, a high-end boarding and grooming service for dogs and cats, plans to make its Florida debut on the southeast corner of State Roads 434 and 417 in Winter Springs.

The company has submitted a final site plan for the new spa and kennel to Winter Springs planning staff, and has already earned city approval for its engineering plan, said Community Development Director Brian Fields.

“We’re probably looking at a September or October meeting of the City Commission” for final site plan approval, he said.

ThePetSuites building would cover 14,244 square feet, according to the site plan, with 28 parking spaces.

The 3.5-acre site is owned by Boynton Beach lawyer Gerald Korman, who told GrowthSpotter he had the property up for sale and PetSuites approached his listing agent Paul Partyka of NAI Realvest.

Korman declined to say how much PetSuites or one of its franchisees has agreed to pay for the property. Officials with PetSuites could not be reached for comment.

Partyka said the pet care company liked the property’s access to two busy state highways. The entrance to the pet spa will be from S.R. 434, known in Winter Springs as Sanford-Oviedo Road.

“The location is a great location at the intersection of the (Central Florida) Greenway and 434 in Winter Springs,” said Partyka, who was formerly a two-term mayor of the Seminole County city. “The Winter Springs-Oviedo area is one of the premier growth areas in Central Florida with high incomes.”

PetSuites is represented by Jeffrey Henwood of Sperry Van Ness/Florida Commercial Real Estate Advisors. Henwood said he is representing the company as it looks for locations throughout Florida.

“We’re doing a number of them,” Henwood said, “but this will be the first one.”

PetSuites advertises itself as “leader of the pack” in the pet boarding industry, providing “world-class” boarding, daycare and grooming for more than 15 years. Features include climate-controlled living areas, and indoor and outdoor play times tailored to the dog or cat’s personality.

The company was founded in 1999 by Joe and Tracy Mason and is based in Erlanger, Kentucky. As of March 2015, PetSuites of America LLC operates as a subsidiary of National Veterinary Associates Inc.

Thank you: GrowthSpotter

Prior to opening their new location in Oviedo, Mission BBQ will hold a fundraisers for Fire Fighters, Police Officers and Military personnel.

Central Florida is welcoming Mission BBQ to Oviedo!

“The mission of Mission BBQ is to serve those who served” said Bill Leahy, Mission BBQ’s market partner for Florida. The first Mission BBQ opened on Septemeber 11th, 2011, exactly a decade after the 9/11 tragedy. Mission BBQ wanted to remind America what’s great about it – which they believe to be our military, our police departments and our firefighters.

On August 7th, 2017 Oviedo will welcome Mission BBQ’s 53rd location since 2011! The 3,500 square foot restaurant will have a fast, casual atmosphere, where patrons will walk through a line and order their food. Something Mission BBQ prides itself on is that ALL their food is homemade. Leahy said, “The food is all homemade and made from scratch, we do not have freezers or microwaves in our building.”

As part of the restaurants commitment to the military and first responders, they will be holding charitable events to raise money for nonprofits chosen by local law enforcement. According to Leahy, all proceeds will be going directly to the charities. Below is a list of the upcoming events:

 

  • Fire fighters Friends and Family Night (private party, invitation only): Wednesday, Aug. 2, 6-9 p.m., benefiting the Shane Kelly Memorial Scholarship
  • Police Officers Friends and Family Night (private p arty, invitation only): Thursday, Aug. 3, 6-9 p.m., benefiting the Oviedo Police Foundation
  • Military Appreciation Night (open to the public): Friday, Aug. 4, 6-9 p.m., benefiting the Special Operations Warrior Foundation
  • Grand Opening Day: Monday, Aug. 7, noon, with a live rendition of the National Anthem, followed by a ribbon-cutting ceremony. Doors open immediately afterward.

When asked about the growth of the restaurant Leahy said, “We are here to serve those who served, and we back that up with not just our words, but our resources and time. We will help them anyway we can. People respect that. It’s a labor of love. We work hard at it, and people seem to gravitate toward that.”

In addition to the company’s wonderful mindset, they will also be adding 50-55 jobs to the area. For more information on this article please click the link, or visit Mission BBQ’s website.