About this Property

Background 

 In February 2014, Larkspur acquired a 52,500 square foot retail center and 2.5 acres of excess land 20 miles outside of Orlando.  Larkspur acquired the property for $4.2mm from a national banking company out of foreclosure. 

Results 

 The shopping center was 50% occupied at the time of acquisition with only two tenants: Dollar Tree and Goodwill.  In addition, one of the vacant spaces was a “Junior Box” of 12,000 square feet that was ill-suited to the local tenant base.  Larkspur split the 12,000 junior box into a front retail portion and a back storage component thereby creating a leasable space which was later occupied by national personal services company, My Salon Suites.  Larkspur also completed leases with Edible Arrangements, One Main Financial and several smaller local tenants to drive occupancy to 85%. Finally, Larkspur sold the excess land for 1.5mm.