Recent leases signed by new tenants has taken Lakewood Ranch Main Street, Florida to 98% leased. One more business has issued a letter of intent and is expected to sign a lease for the final tenant space on Main Street in January 2013, which means it will be 100% leased for the first time.“This is the first time ever since the center was a pipe dream,” Julia DeCastro, director of leasing and sales for Lakewood Ranch Commercial Realty, said of having the shopping center 100% leased.
Lakewood Ranch Main Street celebrated the opening of Health Living Organics in December and Decal World in November. The University of South Florida will open its cooking school in the former Viking culinary center space in February.
When Lakewood Ranch Main Street opened in 2005, its owners planned for it to be similar to St. Armands Circle — a high-end destination shopping center — out east. But the real estate market crash in late 2008 made them rethink that concept.
Lakewood Ranch developer and Main Street co-owner Schroeder-Manatee Ranch acquired Casto Lifestyle Properties’ 50% stake in the plaza in December 2009 and began making the center a destination for families.
DeCastro said Main Street’s tenants consist primarily of family-owned businesses, and she has worked hard to create the right mix of specialty store offerings, without duplicating services. “To have a town center that’s 100% occupied in this market is just amazing,” she said.
Source: East County Observer, (Jan 22, 2014)
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