Road improvements drive commercial center

With the extension of Lorraine Road south to Fruitville Road nearing completion, developer North American Properties will construct a new commercial plaza — University Corner — on 20 acres at the northeast corner of Lorraine Road and University Parkway.

“The connection of Lorraine Road south of Fruitville is obviously critical to the center, bringing people up from Fruitville,” said Dale Hafele, a partner at North American Properties. “We should be putting a sign up saying ‘Publix coming fall of 2018.’ It should be going up in a couple of weeks. It’s time to get this store built.”

Lakewood Ranch developer Schroeder-Manatee Ranch is constructing a four-lane Lorraine Road extension from University Parkway to Fruitville as part of its development approvals for the future 5,144-home Waterside at Lakewood Ranch project in Sarasota County.

At the future University Corner, Publix is the only signed tenant, but leasing efforts are ramping up as the company prepares for a fall 2018 opening of the plaza, Hafele said.

North American Properties will invest more than $20 million to build the  55,000-square-foot-plus shopping center. About 46,000 square feet is the Publix, and the remainder will be stores attached to the anchor tenant. 

Hafele said North American Properties eventually will seek approval to add more square footage for stand-alone buildings fronting the roadways.

“We’re just getting started,” he said of leasing efforts. “The corner of University and Lorraine is such a great corner. We’re going to certainly have restaurants there, a breakfast place and coffee shops. We hope to have some outside seating at some places for the restaurants.”

Hafele said timing for the project is not premature, even though much of Lakewood Ranch east of Lorraine Road and south of University Parkway remains to be developed. Schroeder-Manatee Ranch has broken ground on its Waterside project, immediately south, with the first model homes expected to open in the fall.

There also is growth within adjacent communities, including The Concession, Country Club East and The Lake Club. Hafele said he believes residents of communities farther north, such as Del Webb, as well as those along Fruitville, including The Founders Club, will use the center, as well.

“The distance (to the nearest Publix) is about the same, but it’s more about how long it takes,” Hafele said. “It’s a beautiful road that Lakewood Ranch is building. It’ll provide very convenient access to our center. We’re very confident in the market area.”

As part of its development requirements, North American Properties will construct a north-south road immediately east of SMR’s headquarters at 14400 Covenant Way, to connect that road to University Parkway, Hafele said.

Publix Supermarkets also is planning a commercial shopping center, anchored by the supermarket, farther north at the northeast corner of State Road 70 and Lorraine Road. North American Properties secured development rights for the 17-acre parcel, which will have an 82,600-square-foot center that includes the anchor grocer and other retail and commercial stores.

The property still is owned by Lakewood Ranch Commerce Park LLC, according to property records, but is said to be a future Publix-owned shopping center location, according to multiple sources.

Publix spokesman Brian West declined to provide any information on either location.