Orange Avenue Mart FLA LLC, an entity of Tulepan, has acquired 19.6 acres of land on the north side of Orange Ave. at Hartman Rd. in St. Lucie County. The land is zoned commercially and Tulepan plans to develop Orange Mart Shoppes, a 140,000-sf grocery-anchored retail shopping center.
Orange Avenue Mart will be built to complement and become an adjunct part of Orange Avenue Shoppes, a 330,000-sf retail power/lifestyle center to be constructed on 34 acres on the south side of Orange Ave. at Hartman Rd., which fronts Lennar's new Bent Creek residential development.
Tulepan Management principal Randy Tulepan tells GlobeSt.com that plans for Orange Mart Shoppes are still being developed and a ground-breaking date has not yet been set.
In an unrelated transaction, Tulepan Management LLC, on behalf of Indrio Road Shoppes FLA LLC, has acquired 10 acres of commercial land on the south side of Indrio Rd. just east of I-95. Future plans call for the development of 90,000 sf of retail space. Plans for the site are still being developed and a groundbreaking has not yet been set, Tulepan says.
The two recent land acquisitions bring the total land owned by entities of Tulepan Management to more than 80 acres in the Fort Pierce/St. Lucie County areas. Over 725,000 sf of future retail projects are in the planning stages for those sites. "There are a lot of great residential developments in the area and we think we're strategically located to take advantage," Tulepan says.
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