Shoppes and Offices at Avalon Park, a 100% occupied, 21,000 SF mixed-use property with NNN retail on the first floor and full-service leased offices on the second floor. The building itself has won numerous design accolades. This property is positioned for long-term appreciation, growth in rents, and stable occupancy. The retail tenants on the first floor provide for full reimbursement of their prorata share of the building's expenses while the second floor office tenants are all on full-service leases. Some of the second floor space is demised as smaller executive suite space with a shared conference room. This space is fulfilling a definite need in this burgeoning, young market. In the near-future, this space could be leased to office tenants with bigger space needs and longer-term leases.
The property is located in Avalon Park which is one of the highest profile mixed-use developments in Central Florida with 3,400 single-family units, 1,431 multi-family units and over 500,000 SF of commercial space either already built or planned. The location of the development is poised to take full advantage of Innovation Way and the economic impacts of UCF's new medical school and Central Florida's new biotech corridor.