Flea World Demolition to Make Room for Reagan Center – 2,400,000 SF of Offices, Restaurants, Retail & Multi-family
Flea World Demolition to Make Room for Reagan Center –
2,400,000 SF of Offices, Restaurants, Retail & Multi-family
Sanford, Fla. --- Demolition work has begun at Flea World, the 118-acre site on U.S. 17-92 at Ronald Regan Boulevard and County Home Road and at one time “The nation’s largest flea market under one roof.”
The 34-year-old flea market land, located directly opposite the Seminole County Government Operations Center, the Courthouse and Seminole State College, is expected to become the “Catalyst Project of Seminole County.”
Demolition of the site will clear the way to develop Reagan Center, a mixed-use project that could eventually include as much as 2.4 million square feet of offices, along with restaurants and retail stores, apartments and townhomes.
Paul P. Partyka, Partner at NAI Realvest in Orlando and broker of record for the development, said Reagan Center will ignite a 20-year effort by Seminole County, Sanford, Lake Mary, Winter Springs, Longwood and Casselberry to create a sustainable economic development corridor along U.S. 17-92.
Hastings Homes, Inc. is doing the demolition work, set to be all completed by the end of June. Park Square Homes is expected to start construction of town homes in July, he added.
Partyka, recently named a Top-10 Producer by the Central Florida Commercial Assn. of Realtors, said he expects development of Reagan Center will also spark major residential development along Ronald Reagan Boulevard.
“Reagan Center will create employment opportunities for thousands of Central Floridians over the next decade and will be a major economic engine.”
Partyka said he is already entertaining offers from developers, and plans to showcase the project’s potential with a dramatic 3D video at the national convention of the ICSC---International Council of Shopping Centers---in Las Vegas later this month.
“Because of its location, size and economic impact, Reagan Center will rank as one of Florida’s benchmark development projects well after opening day,” Partyka added.
Partyka said construction and development costs are estimated to be $300 million or more.
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For more information, contact –
Paul P. Partyka, Partner, NAI Realvest, 407-875-9989, Ppartyka@realvest.com
Randall Morris, Principal RM Strategies, Inc. 407-474-8234 Morris@cfl.rr.com
Richard Wohlfarth, Principal, IBI Group, 407-660-2120 Rwohlfarth@ibigroup.com
Turgut Dervish, President, Traffic Planning & Design, 407-628-9955 Turgut@tpdtraffic.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com
About NAI Realvest
NAI Realvest, serving all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. To learn more, visit www.NAIRealvest.com.