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Exciting Huge Retail Development Planned in Apopka

Shoppes at East Shore — an epic new 18-acre, mixed-use development — is heading to Apopka, Orlando Business Journal reports. The project is set to feature shops, apartments, and medical office space, and is planned for the northeast corner of Ocoee Apopka Road and West Keene Road, close to Lake Apopka’s east shore. It’s being developed by WMG Development, a real estate consultant based in Illinois with an office also in Winter Garden. 

Plenty of retail opportunities

The Shoppes at East Shore project is set to feature a grocery store (spanning 48,367-square-feet), as well as three other, smaller retail spaces comprising 14,400 square feet in total. A 4,200-square-feet building is also designated for the medical office space. Moreover, the project has further potential for future development along Ocoee Apopka Road, which spans almost five acres in total. Additionally, 7.47 acres along the project’s north end will be used for multifamily development in the future. It’s expected the retail and medical office space alone may cost as much as $9.3 million to construct. 

The names behind the project

Out of the four pieces of land designated to the project, WMG Development owns three of them (spanning 12.3 acres exactly). WMG Development purchased the land last September for $4 million. The wider team behind Shoppes at East Shore also includes Kimley-Horn & Associates (civil engineer and landscape architects), along with surveyor Allen & Co. Additionally, Wanda and Ronnie Phillips own 5.7 acres of the development property; they purchased it for a mere $36,000 back in the 80s, although it’s now valued at around $351,743. 

Other exciting developments planned

In the past twelve months, the Apopka retail submarket has expanded by an impressive 88,508 square feet. The average vacancy rate is sound 1%, while the average retail rent costs around $21 per square foot. Comparatively, Orlando has an average retail vacancy rate of 3.6%, and an average retail rent is $25.53 per square foot. Indeed, it seems there’s never been a better time for entrepreneurs with vision, drive, and forethought to get started in Apopka. When it comes to selecting the right business structure, an LLC is a particularly advantageous choice for new businesses looking to set up shop in Apopka. This type of structure essentially protects the owner’s personal assets (such as, house, car, and investments) if the business gets sued or goes bankrupt. An LLC offers flexibility relevant to taxation (similar to a partnership) along with the strong protection that usually benefits corporations. Fortunately, setting up a Florida LLC is a fairly straightforward process that requires completing the necessary legal paperwork.
Moreover, the Shoppes at East Shore project isn’t the only exciting new development planned for Apopka. Residents can look forward to frequenting a number of new developments and businesses. Brew Theory, for example, a popular Orlando-based contract brewing facility, is intending to open a new food hall in Apopka City Center in 2023. Excitingly, Brew Theory Marketplace will span a 12,000 square-foot building, and feature a Brew Theory taproom, full bar, and food halls, along with plenty of retail space. Indoor and outdoor seating, including a beer garden, will also be available. Brew Theory hasn't yet revealed the exact businesses the food hall will feature, or how many it has capacity to house in general. And, although an exact opening date has yet to be planned, Brew Theory Marketplace is set to open sometime next summer. Moreover, Brew Theory also intends to expand further afield — they’re opening a second production facility in Massachusetts, as well as a 50,000-square-foot production facility in Sanford in 2023.
More than just the new food hall, Apopka’s Clarcona Road Development also intends to add 8,000 square feet of retail space, along with nearly 180 apartments. And, similar to the Shoppes at East Shore project, plans for another mixed-use development were recently filed with the city. It’s set to include almost 40,000 square feet of retail space, along with 368 apartments.

Business is booming in Apopka

Apopka's flourishing industrial growth is largely due to an abundance of fairly cheap land combined with the Western Beltway now allowing easier access to the northwest Orange County suburb. As such, an increasing number of job opportunities are being created, which is in turn fuelling the demand for more housing across the city. "You have a more affordable price point for housing in Apopka, even factoring in the Class A projects," explains Lisa McNatt, director of market analytics at CoStar Group in Orlando. Multi-use developments featuring both retail and apartment space are also expected to continue to be popular in the area.
With the announcement of the Shoppes at East Shore project, along with other exciting developments, Apopka continues to go from strength to strength. The city’s economic growth has never looked so promising.
City of Apopka, Shoppes of East Shore, WGM Development, Retail, Grocery, Development, Business, What new developments are coming to Apopka? Medical Office, Apartments


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