Shopping Center Business

MAY 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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CENTER REVIEW 90 • SHOPPING CENTER BUSINESS • May 2017 the news that they are in negotiations with several luxury theatres, and are close to finalizing plans for a brewery, comedy club and live performance venue, bowl- ing concept and several restaurants and retailers. The development and leasing team also shared that they plan to bring more than 80 specialty retailers and big box users and restaurants to Lake Nona Town Center. Steiner's Executive Vice President and head of leasing, Anne Mastin, says that Lake Nona Town Center is a rare and exciting opportunity for retail, restaurant and entertainment tenants. "This is an extraordinary market, but the depth and development velocity in Lake Nona puts this site, and this project, beyond 'on the map,'" she said. "It's a mature ecosystem centered around innovation, wellness and performance, with dozens of highly inter- connected and symbiotic traffic drivers. There is not another community like Lake Nona anywhere in the country." One of the fastest-growing mas- ter-planned communities in the nation, Lake Nona's depth and breadth of diverse uses, facilities, amenities and institution- al infrastructure is staggering. The Lake Nona Sports & Performance District is anchored by the 64-acre USTA National Campus, the largest tennis campus in the world; is the future home to the Orlando City Lions Major League Soccer team's training facilities; and the upcoming 55- acre KPMG Global Training Center. Lake Nona is also home to Medical City, a thriving Health & Life Sciences Campus, with more than 2.7 million square feet of clinical, institutional and laboratory build- ings. The 650-acre campus surrounds Lake Nona Town Center and includes two hospitals, two university campuses, an innovation campus and a top biomed- ical research enterprise and NIH research facility. The first Gigabit community in Orlando, Lake Nona has been named a Cisco Iconic Smart + Connected City – the first and only community in the U.S. to receive the designation and only one of nine cities in the world. Tavistock Development Company President James "Jim" Zboril says that the Lake Nona Town Center will be a power- ful retail, restaurant, hotel and entertain- ment destination for both the community and the region. "It's quite literally at the center of it all: a place where employees, students, residents and guests will come together to shop, dine and enjoy spending time with family and friends. Often times in large master-planned communities of- fice jobs follow retail development, but here in Lake Nona we already have thou- sands of onsite jobs and now need that 'energy, heart and soul' that a mixed-use environment like the Town Center will create for our community." The demographic strength of the lo- cation cannot be argued. Lake Nona is home to a growing number of residents and 5,000 on-site employees. Total daytime employment numbers exceed 211,500 within 10 miles of the site, and over 12,000 students reside within 5 miles of the project. Lake Nona sits within one of the wealthiest zip codes in Central Florida: the average annual household income within the project is $143,500, and 80 percent of residents have college degrees (and 45 percent of those have graduate school experience). Lake Nona has consistently been ranked as one of the fastest growing master-planned com- munities in the country by RCLCO, and is the top-selling residential project in the Orlando area. The Lake Nona Town Center site fronts SR-417, Orlando's eastern beltway, a posi- tion that gives the community outstanding visibility and facilitates convenient access from multiple interchanges onto Lake Nona Boulevard. And that connectivity extends beyond the site itself: adjacent su- per-regional transportation includes the adjacent Orlando International Airport and it's new multi-model transportation hub and international terminal, which is under construction and planned to in- clude the All Aboard Florida high-speed passenger train connecting Orlando to Miami. SCB • Build-to-Suit • Conversions • Acquisitions • Equity for Developers • Brokers Protected Come See Us at ICSC ReCon South Hall - SMR223 or Contact Chris Via at 301.466.7186 N3 Delivers Real Estate to Retailers

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