A plaza near Lake Nona, a fast-growing community in southeast Orlando, is expanding and gaining medical and retail tenants.
The Narcoossee Retail Center, developed by Reich Properties Inc. at 865 N. Narcoossee Road in St. Cloud, will have two urgent care centers as tenants for its planned 10,800-square-foot second phase. A building that size may cost roughly $1 million to build, based on industry standards.
Nemours Children’s Primary Care, an urgent care center for children, will occupy 4,200 square feet. In addition, the St. Cloud Regional Medical Center will have a 2,000-square-foot urgent care center, Reich Properties President John Reich told Orlando #Business Journal. “St. Cloud Regional Medical Center and Nemours both decided Narcoossee Road is a good place to be — it’s where St. Cloud meets #Medical City.”
Nearly 5,000 square feet of the second phase remains available for tenants.
Reich Properties spokeswoman Coleen Taylor said the $2 million second phase is nearing constriction and will be delivered in first-quarter 2019.
Orlando-based Jordan & Associates Consulting Inc. is the engineering consultant for the project.
Plans for a third phase will bring an additional 11,000 square feet or more to the plaza. No timeline was given for that phase.
The first phase of Narcoossee Retail Center is complete and fully occupied by Building Brains Academy Language Immersion Preschool, Domino’s Pizza Bakery, All Flooring USA and The Nail Lounge & Spa.
Reich said the growing residential development in the area is driving demand for more commercial space. “Osceola County is a somewhat rural lifestyle, and you have to go to Osceola for that lifestyle. That’s why there are so many rooftops going up. There are enough rooftops now to support developing commercial,” Reich said.
He envisions the plaza’s second and third phases being fully occupied by health care providers such as dentists and orthopedics, along with restaurants.