Innovate is pleased to offer for sale a 52,752 square foot retail anchor property located in the Alafaya Village Shopping Center. The subject property is located on the southwest corner of the signalized and well-trafficked intersection of Colonial Drive and Alafaya Trail (114,000 VPD). The Property is situated approximately 10 minutes from the heart of downtown Orlando and is also close to the University of Central Florida and its over 70,000 students, as well as major employers such as Lockheed Martin and Siemens Westinghouse. This property is in the center of the retail corridor which serves a high density household population and surrounding national retailers include Academy Sports, Target, Regal Cinemas, Home Depot and Kohl's.


This former Albertson's box is being completely rehabbed by it's master tenant, Lucky's Market, who will occupy 64% of the building. Lucky’s Market is a full-service supermarket providing the right balance of farm-fresh produce at great prices along with mainstream, natural, organic and locally-grown foods that meet the everyday grocery needs of their customers. Lucky’s Market has a commitment to their customers to provide the highest quality foods at the lowest prices in town including local and organic items whenever possible. Extensive selection of farm-fresh and locally-grown produce is displayed at the entry to the market. Along the perimeter are top quality naturally-raised meats, seafood, fresh daily prepared-foods and comprehensive natural living and grocery departments. Unique offerings in each of these departments creates a competitive advantage over large centrally-managed chain stores.

Lucky’s Market was recognized by Kroger Foods TM as a great grocery concept in which to invest. Kroger Foods
TM is the country’s largest supermarket chain by revenue and the world’s fifth largest retailer. As of December 2015, Kroger operates, either directly or through its subsidiaries, 2,620 supermarkets and multi-department stores. With Kroger Foods TM significant investment, Lucky’s Market will continue to expand.


East Orlando revolves around a strong and vibrant business community built on education and research. The area is home to the University of Central Florida, one of the top 10 largest universities in the nation, as well as top research facilities such as the Central Florida Research Park and Lake Nona’s budding Science and Technology Park. There are over 50,000 jobs within the boundaries of East Orlando, providing residents the opportunity to work near home and avoid long commutes. Within a 15 minute trade area there is a daytime population of over 460,000 and persons with a higher education make up over a third of the market with a median income of over $50,000 per year. There is a tremendous amount of Lucky’s Market core customers in the area and projects to be very high volume store.


Contact Rick Lewellyan at 630-479-6810 for more information or email at rick@innovate-re.com.




 

Lucky's Market

11750 East Colonial, Orlando FL 32817

Commercial Real Estate

Property Type
Retail
Price
$13,760,000
Cap Rate
5.75%
Total NOI
$791,280
Rent Increases
7.5% every 5 years
Lease Type
NNN
Remaining Term
20 years
Renewal Options
Four 5-year options
Square Feet
52,752