WINTER PARK REDEVELOPMENT OPPORTUNITY
3.03 acres

Condev Land has contracted for 3.03 acres of land in Winter Park, FL.  The property is located within 1 mile of Park Avenue and just one block south of the corner of Orlando Avenue and Fairbanks Avenue.  This unique location provides an advantageous opportunity for redevelopment of the site to combine Senior Housing, Self Storage and a new branch office for Bank of America.

 

CURRENT

Known as the Bank of America Building, the current 33,000 SF building has two credit tenants:

  • Bank of America (branch and mortgage office)
  • Advanced Recovery Systems (ARS), a growing company backed by Goldman Sachs.

Both leases are current and under market rate, however, do provide sufficient NOI to operate the building while Condev achieves those plans and permits necessary to redevelop the property for its highest and best use.

future plan

Based on consumer demand, Condev intends to raze the current building and clear the property.  As noted in the bubble plan to the right, the property would split to serve three needs.

  • Build a new Bank of America branch on the retail frontage of 1792. 
  • Above and behind the Bank of America branch, shown in orange, Condev would build a state-of-the-art self storage facility with a concierge program.
  • The northern section of the parcel shown in yellow would be sold to a senior housing group.

The smallest parcel, shown in purple, would be converted from a parking lot to a two story medical office building. 

BofAparcel_bubbleplan_9.27.17_edited.jpg
Aerial View_b of a_edited.jpg
 

Detail 3

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Detail 4

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