Ocean Walk Village

Daytona Beach, Florida attracts visitors and sunbathers by the droves. Ocean Walk Village will become a new venue for entertainment and retail shopping for residents and tourists of the area.

The project, being developed by Ocean Walk Properties, Ltd. and designed by Walt Geiger of Morris Architects, is being built on top of a one-acre blighted area at the center of Daytona Beach’s new vehicle-free zone. State and federal funds are being implemented to beautify the one-mile strip.

The project is located less than one-half mile south of Seebreeze Boulevard on the beach side of A1A. Ground is scheduled to break in the first quarter of 2000 and Ocean Walk Village is expected to be completed by the second quarter of 2001. First Union is providing project financing.

The open-air, multi-level village will provide 100,000 to 110,000 sq.ft. of retail and restaurant space, including a 14-screen movie theater. Divaris Real Estate, Inc. is managing the facility and is providing consultation for leasing. No retailers have been disclosed but there are verbal agreements for approximately 60 percent of the space. The remaining forty percent is expected to be filled by the movie theater. Average lease terms are ten years and average rates per sq.ft. are estimated to be approximately $30 for small shops and restaurants.

Surrounding businesses include The Adams Mark Hotel located on the south boundary of the project. The hotel is currently expanding to 750 rooms, making it the second largest oceanfront hotel in Florida. Ocean Center, located east of the project, features 60,000 sq.ft. of exhibit and meeting space and is scheduling an expansion of 80,000 sq.ft. to be completed by 2000. Adventure Landing, a five-acre family entertainment park, is also located east of the project. Parking is available via a skywalk that extends over the highway into the Ocean Center’s multi-level parking facility.

For more information, contact Michael Finkle, Divaris Real Estate, Inc., Citi Centre, Suite P-350, 290 NW 165th Street Miami, FL 33169; 305-919-8191.