Retail Redevelopment & Repositioning
Quest Company has been instrumental in the repositioning and redeveloping of many existing retail properties in the metro Orlando area. The properties shown below reflect creative real estate management and redirection of focus, thus resulting in increased performance and greatly enhanced asset value.
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Church Street Market, Orlando, Florida
Don Seligman of Quest Company, in concert with Euro American Advisors, jointly formulated plans for the complete redevelopment of the Church Street Market, now being marketed as "55 West on The Esplanade." 55 West is Orlando’s most upscale, mixed-use neighborhood located in the heart of the Orlando central business district. It is a completely-renovated development consisting of residential and office condominiums, as well as retail establishments, with a strong focus on restaurants, outdoor cafes and entertainment venues.
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Circuit City Plaza, Altamonte Springs, Florida |
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This shopping plaza is a 108,000 square foot retail center located on busy S.R. 436, just one mile east of the Altamonte Mall. This property suffered a 26,000 square foot vacancy with the expiration of the Staples lease. After twelve months of unsuccessful leasing by two different real estate brokerage firms, Don Seligman and the Quest Company were retained by the owners, Euro American Advisors, to reposition this property for sale. Within 120 days, leases were in place with two new tenants and a national tenant was expanded to double its existing size. Don Seligman also renegotiated several existing retail leases, which resulted in a successful sale that achieved an additional $1.8 million more than the owner had hoped to receive, based on the prior rent roll. This assignment led to the selection of Don Seligman and the Quest Company to reposition and redevelop the Church Street Market. |
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Kissimmee Value Outlet Shops, Kissimmee, Florida
With a primary focus on retail outlets, this 130,861 square foot shopping center was at a 40% occupancy level when Quest Company took over the management and leasing of the property. One of the larger national tenants that Quest brought to the center was Bealls Outlet, consisting of 15,000 square feet. The occupancy level increased by 30% in one year under the leasing efforts of Jim Gruber and Julia Sosa of the Quest Company.
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Lake Howell Square, Casselberry, Florida
This is a Wal-Mart anchored center consisting of approx. 273,000 square feet. Quest Company took over the management and leasing of the center in May, 1994 when occupancy was at 57%, with the value at $8,000,000. Quest leased approximately 70,000 sq. ft. to national and regional tenants, bringing the center to 83% occupancy. The cemter was subsequently sold in June, 1996 for $13,100,000. |
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