ORLANDO – Paul P. Partyka, CCIM, MiCP, CIPS, Partner at NAI Realvest, recently representing the seller,Walter N. King, Trustee, of a 24.50-acre parcel on East SR 46, Sanford. The buyer, Ilumina Kings LP, is a subsidiary of North American Development Corp. The property sold for $5,500,000.
North American is developing the site for a new mixed-use development featuring a Publix-anchored shopping center, King’s Crossing, as well as an adjacent planned 260-unit apartment complex. The 75,000 SF center is currently under construction with an expected delivery in late 2023. North American Development currently has 25 other centers in Florida, with 12 featuring Publix as the anchor tenant.
For Partyka, “this is an exciting project – this mixed-use project will be the development catalyst for this area that is called the Gateway to Seminole county. Additionally, this will be key in supporting the over 4,000 new homes being built and the Orlando Sanford International Airport nearby!”
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About NAI Realvest
NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 375 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.nairealvest.com.