The mother-son team has purchased the two-story, 10,000-sffromer JC Penney department store and plan to convert the45-year-old property into a mini Main Street antique mall andretail center. The estimated price of the property, vacant for thelast three years, is $250,000.
King plans to move his Mac Outlet business to the building'ssecond floor which he will share with Sand Dollar Silk Imports andother small merchants. The ground floor will feature SouthernGardens Antique Mall and Showcase.
The 19-year-old Leesburg High School graduate plans to competesuccessfully with neighboring Mount Dora, the established antiquecenter in Central Florida, by offering lower monthly rents. He willbe asking $1 psf and no percentage of gross sales. Mount Doramerchants pay an average $1.40 psf plus 10% of gross sales.
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