the acre success
The ACRE Team's expertise spans from neighborhood centers to ground-up mixed-use development. As specialty retail gurus, our clients can count on a personalized lease plan that includes out-of-the-box ideas, individualized community outreach, and strong market knowledge that spans over 60 years.
The face of retail is shifting dramatically, and the ACRE Team takes pride in finding a symbiosis between local brands, national tenants and the specific needs of the community. As a boutique firm, we're able to work on each project closely, bringing a fresh perspective to what will make a project thrive.
OVIEDO ON THE PARK
Ground-up mixed-use development
With over 100,000 SF of leasable retail, restaurant and office space, Oviedo on the Park is considered Oviedo’s New Downtown. ACRE submitted its successful proposal in 2015, when the original concept was a singular Phase 1 building of 13,000 SF with an initial low retail density trade area. ACRE focused on the strong income and family oriented community to attract proven restaurant concept and was highly selective in choosing an ideal tenant mix, focusing on unique and stable tenants. Walkability and neighborhood synergy was of tantamount importance to the city and community.
GLA: Approx. 100,000 SF
The Food Factory; a modern food hall featuring micro-restaurant bays centered around The Factory Bar. ACRE hand-selected a creative blend of unique and well- regarded food operators to bring an exciting element to the project.
VILLAGE SHOPPES AT ALTAMONTE
Cultivating an Amazon-proof tenant lineup
The tenanting of Village Shoppes at Altamonte came with a number of hurdles to overcome; strong competition in the retail corridor, construction with the I-4 Ultimate project, awkward square footages and large anchor box all presented with a unique set of challenges. With a Landlord eager to sell the property, ACRE set out to complete a strong tenant lineup, a venture that was successful in mid-2018.
Derek Waltchack, one of the founders of the Alabama firm that acquired the property for $8 million, said Village Shoppes “checks all the boxes,” as far as the company’s current business strategy of buying unanchored shopping centers in densely populated, affluent and highly trafficked areas.
“We think tenants that are typical in these types of center are Amazon-resistant,” Waltchack said, referring to the on-line retail giant blamed for the demise of malls and department stores.
The I-4 Ultimate project benefitted the center by creating a new main and main intersection directly at the shopping center, and the large anchor box split between International Diamond Center and Skyra Studios. The lineup now includes Crepevine, Antica Pizza, Paris Nails, Cookie Dough Bliss, Str8endz Salon, Copacabana Café, Kohinoor Indian and a dental office.
MAITLAND CITY CENTRE
High-end specialty tenant lineup
The city of Maitland and its residents expressed the desire for a food hall. After a Tenant/ food hall operator could not secure financing, ACRE developed the idea for individual food stalls. The symbiotic relationship allowed the Landlord to achieve leasing objectives, specialty vendors a manageable business opportunity, and the community a unique destination. The space now is home to Sanford Brewing Company and Houndstooth Sauce Co.
Additionally, the center had experienced dismal leasing activity prior to ACRE’s involvement. To alleviate the concerns, ACRE met with the city of Maitland to establish various surrounding public and private parking alternatives. The current tenant lineup now includes The Outpost Neighborhood Kitchen, Midici Neapolitan Pizza, Dixie Belle Café, Boku Sushi, 407 Gelato, BAM Barre, CooKit, Starbucks, and Subway.