Oviedo Retail Acquisition Sets Stage For Another Addition At Growing Mixed-Use District

Maitland-based CrossMarc Capital LP has acquired The Food Factory at Oviedo on the Park and an adjoining commercial development parcel for $8.25 million in an off-market transaction. The fully occupied dining and entertainment property is located in Oviedo’s mixed-use town center, while the additional parcel is slated for a new multi-tenant retail building. Kilwins Chocolates Franchise Inc. has already committed to space in the future project, giving CrossMarc an initial tenant as it prepares for the next phase of development.

Acquisition Combines Existing Income With Development Potential

The Food Factory operates as a collection of chef-driven micro-restaurants and gathering spaces near Center Lake Park. The property includes indoor, covered outdoor and courtyard areas and is designed around individual restaurant concepts rather than a traditional single-tenant retail format.

The venue’s current restaurant lineup includes concepts such as Oviedo Park Pub, Buttercrust Pizza and Little Greek Fresh Kitchen, among others.

By acquiring both the operating property and the adjoining site, CrossMarc gains a stabilized retail asset as well as the ability to expand its presence within Oviedo on the Park. The company said the existing property is fully occupied.

Kilwins Commits to Planned Retail Building

CrossMarc plans to develop a new multi-tenant retail building on the adjacent parcel, with Kilwins already pre-leasing space.

The planned construction represents additional commercial development within Oviedo on the Park, a district that has evolved into a mix of apartments, townhomes, restaurants, shops and public amenities centered around Center Lake Park.

Existing development in the area includes national and regional restaurant concepts such as Panera, Starbucks, Five Guys and Ford’s Garage, along with hundreds of residential units.

For CrossMarc, the combination of an income-producing acquisition and an adjacent development opportunity provides two potential sources of value within the same investment. The existing tenant base provides occupancy from the outset, while the additional parcel allows the company to add new retail space rather than relying solely on appreciation of the acquired property.

The transaction also reflects continued investor interest in suburban mixed-use environments where restaurants and service-oriented retail can draw from both surrounding neighborhoods and built-in residential populations.

Key Facts

Property: The Food Factory at Oviedo on the Park and adjacent development parcel
Location: Oviedo on the Park, Oviedo, Florida
Asset Type: Retail / dining and entertainment
Transaction Type: Acquisition; off-market transaction
Buyer: CrossMarc Capital LP
Price: $8.25 million
Occupancy: Fully occupied
Planned Development: New multi-tenant retail building on adjoining parcel
Notable Tenant: Kilwins Chocolates Franchise Inc. has committed to the planned retail development

Source: OBJ