A globally recognized makeup and beauty store and two restaurants are headed to the $15 million Winter Park Square shopping center, joining Whole Foods Market and Nordstrom Rack.
French cosmetics chain Sephora, Utah-based Café Rio Mexican Grill and California-based The Habit Burger Grill are the newest tenants lining up for space in the 77,000-square-foot shopping center on the northeast corner of Lee Road and U.S. Highway 17-92.
New shops and restaurants offer residents and workers more options and can help attract more investment in the area.
Sephora is expected to sign a lease for a 4,500-square-foot corner site, creating construction buildout opportunities and new jobs. Plus, the store may pay top dollar for the space — in the neighborhood of $60 per square foot in rent, sources told Orlando Business Journal.
In comparison, the Winter Park/Maitland retail submarket fetches an average lease rate of $17.73 per square foot, according to Colliers International Central Florida. The report also includes retail centers in several older properties and areas that don’t attract high-end tenants, which sags the average.
Winter Park is one of Central Florida’s most coveted areas, with its proximity to Rollins College, well-educated, well-heeled residents and new Class A retail centers such as the Trader Joe’s-anchored Lakeside Winter Park and Lakeside Crossing.
“The area has a very good density of income and education levels, so the fundamentals are strong,” Jorge Rodriguez, managing director at Colliers International, who specializes in retail but isn’t involved in the project, previously told OBJ. “That’s just where the money is. It would provide an environment that sits well for that customer.”
This will be Central Florida’s 13th Sephora store, which includes seven inside JCPenney department stores. The $4 billion retail brand — known for its black-and-white striped logo — has a cult following and operates about 2,300 stores in 33 countries worldwide, with an expanding base of more than 430 stores across the Americas.
Meanwhile, Franklin, Tenn.-based developer UP Development announced the two restaurants will open soon on a small parcel. This is Central Florida’s first Cafe Rio, which opened on Sept. 27.
Further, metro Orlando’s second The Habit Burger Grill will open there later this fall. The chain’s first location debuted near The Mall at Millenia last year and another is expected to be part of the planned $100 Vineland Pointe shopping center near Walt Disney World, as OBJ previously reported.
“We’re excited to bring to the market new restaurant options that are proven winners with diners seeking fresh, authentic and creative menus,” UP Development principal Scott Fish said in a prepared statement. “They are the perfect fit to our tenant mix serving the Winter Park and Maitland communities.”
SRS Real Estate Partners is marketing the property; interested parties can contact Jason Kaiser at (407) 310-3001 or [email protected] for details on available space.