MIAMI—Two commercial outparcels—Legoland Parcel 1 and Legoland Parcel 2—have attracted investor attention. Both parcels are located at the front gate to Legoland, central Florida’s newest theme park.
Legoland is located in Winter Haven, FL, a Central Florida town in between Tampa and Orlando. The parcels sit on 2.4 acres of land at 6305 and 6315 Cypress Gardens Boulevard. Both land parcels offer visibility fronting Cypress Gardens Boulevard on its eastern boundary and Helena Road to the west.
Paul Bouldin, a senior associate in Marcus & Millichap‘s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution based in Illinois. Bouldin also represented the buyer, a developer from Charleston, South Carolina.
“We continue to see increased improvement in land and development activities,” says Bouldin. “This property is in a terrific location. As the real estate cycle matures, ground-up projects will make economic sense and demand for developments like this will return to the market.”
Legoland opened on October 15, 2011 on the former Cypress Gardens site. The park is part of a worldwide network of Legoland Parks in California, Denmark, England, Germany, and Malaysia. Legoland caters to families with children between the ages of two and 12, with over 50 rides, shows and attractions which still include a water ski show.