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West Oaks Mall inks ‘catalytic’ tenant,  500+ jobs to come

West Oaks Mall inks ‘catalytic’ tenant, 500+ jobs to come

By: Ajali Fluker 
Orlando Business Journal
April 22, 2016

Ocoee’s West Oaks Mall on April 22 signed a huge new tenant that is set to help kickstart redevelopment of the ailing property into a  new, jobs-rich, mixed-use complex.

Las Vegas-based mall owner Moonbeam Equities I LLC inked a seven-year, 70,000- square-foot lease for a new Xerox Customer Service Center to take up most of half of the space formerly occupied by Sears.

The new center, which will be focused on processing statewide toll transactions for the Florida Department of Transportation, is expected to create more than 500 jobs ranging from executive-level to customer service positions, said Shawl Pryor, senior vice president of leasing and management for Moonbeam Equities.

The new customer service center has a fall targeted opening date, which is quite aggressive, meaning that construction must start right away.  Xerox also has an option to take the remaining space that was previously occupied by Sears, which closed in October 2012, as previously reported by occupied by Sears, which closed in October 2012, as previously reported by “This is the first step in our process of redeveloping the West Oaks Mall into a  mixed-use environment that will encompass office and other uses that will complement the already existing retail,” Pryor told OBJ. “This is a catalytic tenant in jumpstarting redevelopment at West Oaks Mall.”

This is the first potential deal as part of the remaking of West Oaks, which has been one of the regional malls hardest hit by changes in the retail industry over the last several years. Moonbeam has additional land and parking lots, which will help to draw more uses such as schools, medical offices, hotels or multifamily, among other uses.

West Oaks a year ago said it was embarking on an effort to make over the mall to bring in uses such as office, homes and a hotel, as OBJ previously reported.  Moonbeam spent $15.9 million to buy most of the mall property in late 2012 and soon after, began talking about plans to revitalize the property.

 

Fluker, Ajali (April 22, 2016)  "West Oaks Mall inks 'catalytic' tenant, 500+ jobs to come" (2016, May 3rd) The Orlando Business Journal. . http://www.bizjournals.com/orlando/blog/2016/04/breaking-west-oaks-mall-inks-catalytic-tenant-500.html