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Exclusive: Mall at Millenia-area land sold for new Marriott hotels

Published on: December 21, 2015

A Puerto Rican development firm reportedly has secured a 4-acre site near The Mall at Millenia with plans to build a new dual-branded Marriott hotel complex.

Island Hospitality Partners LLC was expected to close on the $4 million purchase of the vacant site at 5403 Millenia Lakes Blvd., just west of the mall and north of the Aqua at Millenia apartment complex, on Dec. 15, real estate sources said.

Plans for the site include a six-story connected Marriott AC Hotel and Residence Inn with a total of 254 rooms, as previously reported by Orlando Business Journal.

A project cost wasn’t released, but sources estimated it at about $13 million-$15 million, which would create more than 100 temporary construction jobs. The project also would create permanent jobs and help bring more visitors to the immediate area surrounding the ever-popular Mall at Millenia, adding to the region’s $60 billion tourism industry.

Brian Grandstaff, principal of Millenia Partners, was the broker representing the seller, Millenia Hotel Investors LLC, an entity related to Orlando-based Schrimsher Investments Corp.

The European-inspired, boutique AC Hotel concept is a new one for the Orlando area and is described as “design-led, urban, cosmopolitan and tailor-made for modern travelers,” according to Marriott’s website.

The city of Orlando approved plans for the project in September, and construction is expected to start soon after the closing.
Kimley-Horn & Associates Inc. is the project engineer, Miami-based Kobi Karp Architecture is handling the design, and Altamonte Springs-based Shannon Surveying Inc. is the surveyor. It is unknown if a general contractor has been selected yet.

Source: Orlando Business Journal

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