Real Estate News
Lincoln Property Company Completes Five New Retail/Entertainment Leases at 55 West's Church Street Market - All Openings by Year End
ORLANDO, FL - Lincoln Property Company Southeast, (LPC) closed on five new 10-year leases for 25,000 square feet at The Church Street Market, 54 and 55 Church Street West in downtown Orlando since the beginning of this year. The retail /mixed-use component of the luxury high-rise 55 West currently has only two street level spaces remaining available.
LPC Senior Vice President Aaron Dan and Senior Brokerage Services Associate Kathy Bonini, negotiated the lease agreements representing Landlord Hasta Capital, a leading investor in the U.S. and Latin America.
Birria 1983, with 3,800 square feet, is an award-winning taco concept including a full bar offering numerous variations of Tequela; The Bao Spot with 2,100 square feet will offer many different cuisines swathed in the soft "bao" dumpling to enjoy in an extraterrestrial themed atmosphere. Both of these restaurants opening by the end of September will also offer patio dining.
BluWave Sushi, offering fresh hand-crafted creations will open in November in 3,000 square feet - four times the size of its original location in Tampa.
SAK Comedy Lab with 7,200 square feet and Luxe Med Spa with 3,800 square feet - are both relocating from Orange Avenue and planning to open by the end of this year when interior remodeling is complete. The Luxe Med Spa space on the second level requires extensive redesign for its treatment rooms and SAK Comedy will be able to seat approximately 150 patrons upon completion of interior renovations.
The 72,000 square foot Church Street Market built in 2006 is currently 91 percent leased, with one lease pending which would put it at 98 percent leased once executed. Existing tenants include Fringe ArtSpace, Artisan's Table, Bagel Dudes, Cucina Pizza & Bar and CFS Coffee.
Bonini and Dan said there has been a great deal of interest in the sophisticated urban location, and they are in negotiations for a 5,600 square foot space with three top restauranteurs to take the former Rusty Spoon space. Each one would complement the other tenants.
"We're extremely pleased with the level of interest we've had at Church Street Market. There is so much leasing activity going on behind the scenes on Church Street right now, it's going to be truly special when all the new restaurants, retailers, and entertainment venues open their doors within the next few months. We've also been fortunate to have a city who is pro-business and offering financial assistance to retailers/restaurants coming to Downtown Orlando."
"As our downtown continues to serve as Central Florida's premier neighborhood, it's important we diversify our offerings and enhance our vibrant hub," said Orlando Mayor Buddy Dyer. "These new restaurants and retail businesses help us do just that and add to our thriving city center, providing more options for our residents, visitors and workers."
For more information, contact:
Aaron Dan, Sr. Vice President, Brokerage Services, Lincoln Property Company Southeast, 407-872-3539; Adan@lpc.com
Kathy Bonini, Sr. Associate, Brokerage Services, Lincoln Property Company Southeast 407-872-3527 or Kbonini@lpc.com
Beth Payan, Larry Vershel Communications, Inc. 407-461-3781 or beth@larryvershel.com
About Lincoln Property Southeast
Lincoln Property Southeast is a commercial real estate firm offering a comprehensive suite of value-added services for its clients. With a substantial local presence, a history in the Southeast region and a track record of success, the company is ideally situated to provide superior service, which comes from knowing the goals and challenges faced by clientele: tenants, investors, lenders and owners of commercial real estate.
