July 2017 Flagler Commercial Real Estate Tidbits

Aldi, Starbucks, IHOP, Chipotle, bulk residential land purchase, Creekside – with Interactive Map

PALM COAST, FL – July 17, 2017 – There is plenty of good news for those that follow the Flagler County and Palm Coast real estate scene. Here’s a rundown of what’s new along with an interactive map:

ALDI

Palm Coast’s latest grocery store was mobbed on July 13th, the store’s official opening day. All registers were open with wait lines stretching to the back of the store. I picked up my free Aldi branded shopping bag without making a purchase. Shirley and I returned on Saturday to try again. This time the traffic was reduced, but so too was the inventory. We will be back.

STARBUCKS

Two new stores, one in Island Walk and the other in Shoppes at Palm Coast, are nearing completion. Both will have drive-thru service.

IHOP

While the site development permit has been issued for the new restaurant in Island Walk, no dirt has been moved.

CHIPOTLE

The development order has been issued. Dirt is being moved. The Town Center CDD has approved the store’s design. Still no building permit.

ALLETE PROPERTIES

Palm Coast Land LLC, a special purpose entity of Allete Properties, closed June 29th on the sale of nine contiguous parcels, zoned residential and totaling 725 acres. The buyer is Optimum Global Properties LLC, of Orlando. The purchase price was $1,750,000. The property is part of the Palm Coast Park DRI developed by Palm Coast Holdings.

The parcels are bounded by US Rt 1 on the west, by Old Kings Road on the north, by Interstate 95 on the east and on the south by the former Matanzas Golf course.

CREEKSIDE COMMERCIAL

Creekside Commercial – This commercial development of six buildings totaling 18,000 SF for office and retail is in the site development stage. It is located on Colbert Lane at the entrance to Waterfront Park.

Interactive map