Press Box

Strong Sales for Loop stores

The Loop shopping center off Osceola and John Young parkways on the northern edge of Osceola County is 90 percent complete, but already tenants are reporting sales of 30 percent to 65 percent over projections.

"We've been developing shopping centers for over 30 years, and this is by far the most successful grand opening of a retail center we've ever had," said Andy LaGrega, partner at the Wilder Cos., the Boston-based developer.

According to LaGrega, retailers such as Kohl's, Ross and Sports Authority have said that their stores at the center are some of their top producers in the region.

Other retailers include Old Navy, Pier 1, Petco, The Vitamin Shop and Michaels. Restaurants include Chili's, Macaroni Grill, Chipotle, Panera Bread and Wendy's. The much anticipated movie theater, Regal Cinemas 16, is scheduled to open Feb. 20.

LaGrega said that plans for expansion have begun. The Loop West will add about 400,000 square feet of retail and restaurant space to the center's west side. They expect to break ground this spring, and new tenants should be ready to open shop a year later.

He wouldn't disclose who would be moving in but said that some high-end stores that were originally unsure about the project's location are lining up for the expansion. ____________________________________________________

Mark Pino
COMMENTARY

December 28, 2005

In one ear and out the other:
Good news. It appears that The Loop shopping center is a big hit. Crowds were heavy when we visited over the holidays, and an item in the Sentinel said that tenants are reporting sales of 30 percent to 65 percent over projections. Can't wait for the movie complex to open. Here's hoping that a planned addition of 400,000 square feet will have a first-class bookstore. No doubt some of the traffic is coming from south Orange County in general, and nearby Hunter's Creek in particular. Just remember that since the center is in Osceola County, we benefit from the sales taxes collected there.

 

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