World's Oldest Continuously-Running Olive Garden May Move From Orlando Fashion Square Mall to Orlando Fashion Square Mall
The world's oldest continuously-running Olive Garden opened in 1984 in the Macys-adjacent parking lot of Orlando Fashion Square Mall at 3675 E Colonial Dr, Orlando, FL (MAP). This historical-ish location should be shuttering eventually due to the expiration of its ground lease and the fact that a new Olive Garden location will be opening just down the street in The Shoppes of Orlando Fashion Square, the 17.98-acre swath of parking lot formerly containing Sears department store and Sears Automotive according to Growthspotter. While the location carries a different name, visually it will remain Orlando Fashion Square Mall.
The building of this new location is part of the $150 million to $175 million the company plans to spend on growth (new locations) in 2018.
The non-Sears portion of Orlando Fashion Square Mall property at 3201 E Colonial Drive (MAP) has been listed for sale by Cushman & Wakefield. Adam Feinstein is the Broker for the property: 305-533-2863. The price is not disclosed publicly but according to the Orange County Property Appraiser's website, the 2017 tax year value for the property is $30,111,061. It comes with a mall building, some department stores, a warehouse, a parking garage, a 19242 sq ft pond, a 420 sq ft pedestrian bridge valued at $97,465 and a "better quality fountain is valued at $3,000. Perhaps the new buyer will execute those 2013 re-design plans that included a hotel.
It's unclear what the new interior look will be. Just 3 years ago in 2014, a new look called "Revitalia" for remodeled restaurants was introduced. $180 million will have been spent renovating 300 locations by fiscal 2017.
Seritage owns the ±49.89-acres this Olive Garden will sit on. Replacing the Sears will be an Orchard Supply Hardware, Floor & Décor and Longhorn Steakhouse. The land area that is the subject of this offering totals nd benefits from entitlements that allow for massive density, including 1,387,196 sf of retail, 175 hotel rooms and 236 residential units
The non-Sears portion of Orlando Fashion Square Mall property at 3201 E Colonial Drive (MAP) has been listed for sale by Cushman & Wakefield. Adam Feinstein is the Broker for the property: 305-533-2863. The price is not disclosed publicly but according to the Orange County Property Appraiser's website, the 2017 tax year value for the property is $30,111,061. It comes with a mall building, some department stores, a warehouse, a parking garage, a 19242 sq ft pond, a 420 sq ft pedestrian bridge valued at $97,465 and a "better quality fountain is valued at $3,000. Perhaps the new buyer will execute those 2013 re-design plans that included a hotel.
Two Fun Orlando Olive Garden Facts:
- The world's first Olive Garden opened in 1982 on I-Drive.
- The Park Avenue shopping district of Winter Park once featured an Olive Garden at 310 S. Park Ave (MAP) which opened in 1986 and closed in 1991.
