Hold Thyssen Closes Sale of Site for Development on U.S. 192 for $2.8 Million

October 2, 2023

The sale of one of the few remaining significant sites available on U.S. Highway 192 between I-4 and Highway 535 was recently closed.  The owner, who acquired the property in 2006 as a site for a bank, decided to sell and listed it with Hold-Thyssen, Inc., a full service commercial real estate firm based in Winter Park.

Hold-Thyssen Broker Associate Martin Forster, CCIM, who facilitated the sale on behalf of Properties of Osceola, LLC, the Winter Park-based seller, said the property attracted several competing offers but was finally sold for $2,800,000 to Orlando-based Polynesian Isle Properties, Inc., a holding company for an experienced developer.

The 2.80-acre site at 5390 US Highway 192 in Kissimmee, includes 2.44 net usable acres and a 0.36-acre retention area. It is the last remaining vacant site in the Kyng’s Heath V PUD, situated between Cracker Barrel and Uno’s. 

Forster said the buyer’s preliminary plans call for demolition of the former Anti-Gravity Theater where acrobats trained and shows were performed, and the construction of two fast-food restaurants.

“We expect these developments to be very successful as they will complete the buildout of the Kyng’s Heath V PUD between Elise Drive and Scott Boulevard and will complement the eight other businesses located there, which are expected to attract at least one million visitors per year,” Forster said.

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year-old firm’s current portfolio includes more than 100 commercial properties throughout the United States.