Plans announced for expansion of Southport Plaza in Poinciana
January 28, 2009
The principal of Realcap Associates, LLC of Boca Raton has purchased a 3.71-acre site from Avatar® Properties Inc. at one of the busiest intersections in Poinciana on which he plans to build the second phase of the upscale Southport Plaza.The site of the former Poinciana Welcome Center, the 3.71 acres are situated on the "hard" southeast corner of Pleasant Hill Road and Southport Road, opposite the termination of Poinciana Boulevard where most traffic enters and exits Poinciana.
The second phase is planned to include a 15,400 sq. ft. in-line retail/office building and has a 1.2-acre pad on the "hard" corner which is available for sale or lease, according to Jan Jaroszewicz, owner of Realcap.
"We have a fantastic window on the premier corner in Poinciana that experiences a daily traffic count of over 51,000 automobiles at this signalized intersection," said Jaroszewicz who also owns and manages the 22,000 sq. ft. first phase of Southport Plaza which was completed in May 2006.
"Although we're taking a cautiously optimistic approach, there's already been substantial interest in the property and a couple of leases are pending," he said. "We like the Poinciana market, in particular this premier corner location. Despite the recent downturn, retail and service sector markets in Poinciana have remained reasonably stable, reflecting Poinciana's on-going need for basic retail and other services demanded by the community's explosive growth in recent years."
The 15,400 sq. ft. building will feature "standard" bay sizes of 1,100 sq. ft. and Mediterranean-style architecture identical to the first phase of Southport Plaza which features a tile roof, covered walkways with glass facades, and drive-up parking.
Existing Southport Plaza tenants include Domino's Pizza, CORA Health and Rehabilitative Services, Studio 5-6-7-8 dance studio, Asian Garden restaurant, Antasha's Market, Extreme Art of Tang Soo Do karate studio, Physicians Care Services, X Marks The Spot Video game center and computer time rental and repair, and My Angel's Dream Day Care.
Jaroszewicz anticipates breaking ground on the second phase in the next 90-120 days and plans to begin delivery in late summer or fall 2009.
When complete Southport Plaza will be opposite The Pointe at Poinciana, a retail center being developed by Avatar® who also is the developer of and primary homebuilder in Poinciana, the 47,000-acre master-planned community in northwest Osceola and northeast Polk counties. The Pointe is home to Lowe’s and various other regional and national tenants.
For more information about Southport Plaza, contact Jan Jaroszewicz at Realcap Associates, at (561) 362-4040. To learn more about available retail and commercial properties in Poinciana, contact Hank Yunes, vice president of commercial operations for Avatar®, at (305) 442-7000.
