Lake Nona invests in tech for connected retail experience
Tavisock Development is partnering with a Google company on technology it says will “reimagine” the retail and entertainment experience at its Lake Nona Town Center in Orlando.
Intersection Consulting & Solutions, a unit of Alphabet, Google’s parent company, will work with Tavistock on nine-month project to use digital technology to bring “smart city” solutions to retail issues like parking and wayfinding. The company, which created New York’s Wi-Fi-driven LinkNYC network, promises also to create a connected retail experience that is responsive to individual consumer preferences.
“By creating a data-driven, connected, and responsive ecosystem, Lake Nona will pioneer a technology-forward town center that will serve as a model for the rapidly changing retail market nationwide,” said Alphabet president Jim Butler.
The first phase of the 100-acre Lake Nona Town Center opened in January 2016 with an 85,000-sq.-ft. office building, two Marriott hotels), and 16,000 sq. ft. of retail and restaurant space. At full buildout it will include house more than 80 retail, dining, and entertainment tenants, along with 85,000 sq. ft. of medically integrated fitness facilities.
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SoCal center sells for $20.7 million
A limited partnership has purchased the 110,359-sq.-ft. Southridge Plaza in Fontana, California for $20.7 million.
Anchored by a Rio Ranch Market, the necessity-based center is strong among Hispanic consumers in this town just east of San Bernardino. Other tenants include Rite Aid, AutoZone, McDonald’s, Subway, Waba Grill, and Cricket Wireless.
“Rio Ranch Market isn’t a national credit grocery brand, however, with eight stores open, it is one of Southern California’s stronger Hispanic supermarket chains,” Donald MacLellan, senior managing partner of Faris Lee, which handled the sales made by Fortress Investment Group.
New owner of Southridge Plaza is Fontana Southridge Partners.
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