An outdated 1980s-era office center in Winter Park is set to undergo an extensive renovation that will revamp the property as a mixed-use development with creative offices, retail, restaurants, and public green space.

Charlotte, NC-based Asana Partners purchased the property in 2022 for $27.75 million and will rebrand the project as Minnesota Row. The developer will begin construction soon and is expected to complete the revitalization sometime next summer. The office park is located at 1311 Minnesota Ave., behind the Publix-anchored Hollieanna Shopping Center.

Alexie Fonseca, Jeff Johnson, and David Gabbai of Colliers handle leasing for the retail portion of the property.

Fonseca told GrowthSpotter that the developer recently submitted a revised master plan to the City of Winter Park which includes 13,820 square feet of retail and up to five food and beverage locations totaling 20,356 square feet.

Additionally, there will be about 85,000 square feet of creative office space that will cater to new businesses as well as existing tenants like AdventHealth.

Kevin Will and Alex Rosario of Foundry Commercial are in charge of leasing the office space.

Fonseca told GrowthSpotter that the project is targeting restaurant concepts that are new to the market. There will likely be one or two fine dining locations appealing to an upscale crowd, but there will be some casual options as well.

“We will have two or three fast-casual [restaurants] that will cater to the office crowd that’s there,” she said. “The idea is to create a mixture of food and beverage users.”

The renovations will deliver enhanced building facades and a central, outdoor pedestrian walkway and gathering place that will provide outdoor seating options for customers and office workers who are employed in the adjacent office space. Fonseca said that the office workers will provide a steady flow of business to the food and beverage users during work hours on weekdays. She also explained that the project is attractive for prospective food and beverage tenants because it will be a destination that attracts people.

“We’re creating a synergy of restaurants here. A lot of times when you find a restaurant space, you’re kind of off by yourself which requires a lot more marketing and letting people know that you’re there,” Fonseca said. “Here we’re creating a synergy that is great for foot traffic and cross-marketing that they can do with each other. We’ll line it up with a good breakfast user, a good lunch user, and a good dinner user so that they’re not conflicting with each other.”

In July, Fonseca, David Gabbai, and Jeff Johnson of Colliers were recognized with a Deal of the Year award from the Central Florida Commercial Association of Realtors (CFCAR) during the Hallmark Awards ceremony for their involvement in the redevelopment of another Winter Park project called Winter Park Village. Colliers teamed up with developer Casto on a comprehensive redevelopment of the shopping center and headed up the leasing efforts that attracted numerous high-profile retail tenants, restaurants, and bars.

The renovation included enhancements to the exterior of existing buildings, the construction of new buildings, an expansion of sidewalks to add more seating, and the addition of “The Green at WPV”, a space for live music, events, and festivals. Winter Park Village has a Publix, Regal Cinemas, numerous clothing retailers, and notable food and beverage tenants such as The Cheesecake Factory, Ruth’s Chris Steak House, Bar Louie, and The Hangry Bison.

“Winter Park is arguably the hottest commercial market in Central Florida,” Fonseca said. “It’s really hard to find space available in Winter Park, especially restaurant space.”

Source:  GrowthSpotter