Valencia’s downtown Orlando building sale paves way for retail space

Four tenants already are negotiating for space in Valencia College Foundation Inc.’s historic downtown Orlando building, which Nunziata Holdings LLC has under contract to buy.

“The plan is to turn the first floor into retail — something with a little cultural and a little excitement downtown,” said Billy Bishop, founder and principal at Orlando commercial real estate firm BishopBeal and the leasing agent and developer for the buyer, talking about tentative plans for the four-story, 28,716-square-foot building.

The plan doesn’t include creating a new bar, but the space could be used as a concert-venue or a national restaurant. No clothing retailers, though. “If you look at the historical photos, a lot of the old photos have retail, awnings and seats outside for dining,” Bishop said, adding that there also used to be a vertical sign on the side of the building. “You could have an avenue that has some entertainment for families, a nice place to go out, and also have some national restaurants. We’re looking at everything.”

Rob Nunziata of FBC Mortgage LLC, who signed the purchase documents, declined to comment.

The change in ownership of the building means opportunities for companies, as the other three floors will be office space. It also could mean opportunities for contractors and builders to renovate and build-out the building, as well as a potential new place for companies to bring clients downtown.

“That thing is at central and central,” Bishop said. “We think it’s the neatest project to come into downtown in a long time.”

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