Previous Use: Vacant Land
Proposed Use: Multiple Goodwill Stores
Project Budget: $5.5 million per store
Challenges: Goodwill had been expanding its presence in the Orlando market for several years. In order to continue its growth, while maintaining a healthy balance sheet, Goodwill sought out a development partner (Interstate) to acquire land, engage vendors and construct their prototypical stores under a long-term lease arrangement, with an option to purchase. Interstate offered Goodwill precisely the flexibility they were looking for. Interstate has completed five Goodwill transactions, two in Minnesota and three in Florida, and because of the partnership strategy, Interstate expects to complete many more.