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S. John Young Parkway in Kissimmee, Florida

The Challenge:

The Kissimmee submarket had not fully recovered from the downturn and the plaza had a vacancy rate of 13.63.  One of the spaces had limited visibility.  A second space had a laundry facility with outdated machinery that had been dark for 7 years.

The Location:

The property is located at 1194 S John Young Parkway in Kissimmee, Florida and is an 85,000 sf shopping Plaza. 

Action

After reviewing other potential candidates, Bermuda Avenue Shopping Center Associates engaged Francisco Jaramillo based on his successful interview and fluent Spanish.  Francisco quickly begun to market the property to regional tenants who had the resources to make the necessary improvements and who were a good fit for the area and the shopping plaza.  We launched a targeted campaign that led to the leasing of these challenging spaces in a difficult submarket.  In an area where the Hispanic population is 64.3% in a five mile radius, Francisco secured a well-known men’s clothing store chain from Puerto Rico to open their first store in the continental United States.  Francisco’s campaign included signs, targeting businesses that would be a natural fit for the center for cold calling, email blasts, and Internet marketing, as well as creating a local presence via his involvement in the Hispanic Chamber of Commerce of Metro Orlando.

Result:

  • Decreased vacancy in the center by 11.2% in a period of one year.
  • For a difficult space, procured a tenant who is a strong international clothing retailer chain that opened their first location in the United States.
  • Brought as a tenant a commercial laundry distributor with over 30 years of experience and over 300 laundromats built, who refreshed the laundromat with brand new and provided the space with a new look without the landlord having to contribute any tenant improvement allowances.
  • Secured Franchisee of nationally-known tax service franchise, Liberty Tax Services.

Client Testimonial:

The market for retail space in the submarket in which the shopping center is located had not yet fully recovered from the economic downturn when Francisco begun working with us. I had the pleasure of working with Francisco Jaramillo to help lease our 85,000 square foot shopping center in Central Florida. Through Francisco’s efforts, we were able to secure new tenants to fill vacancies in our center.  These vacancies included the replacement of an outdated laundromat operator with a regional laundromat chain that invested in new equipment and provided a fresh look to the space. Additionally, Francisco brought a regional ready to wear clothing chain to rent a challenging space, as well as a franchisee of Liberty Tax Services. Francisco’s bilingual skills were very helpful with both new and existing tenants.

Francisco was always very responsive to our needs and was able to alert us to conditions that warranted our attention that provided us with our onsite “eyes and ears.”

Francisco was also helpful in referring us to other brokers in Florida who serviced our other locations.

Anthony Haynes, Managing Member
Bermuda Avenue Shopping Center Associates