Cypress Plaza Shopping Center planned in Poinciana

October 19, 2006

Plans have been announced for the development of Cypress Plaza, a $15 million shopping center that will be built on a 16-acre site that fronts Cypress Parkway just west of Pleasant Hill Road in Poinciana Towne Center.

Development and construction of the 100,149 sq. ft., nine-building, Mediterranean-style center located in front of the Wal-Mart SuperCenter is expected to get under way early next year (2007), according to the South Florida developers.

Currently going through permitting process, Cypress Plaza is a joint venture of Gadinsky Real Estate, LLC of Miami Beach and Echion USA Inc. of Sunrise, Florida.

According to the developers, Pollo Tropical, Wendy’s and Panda Express restaurants have already committed to three free-standing sites fronting Cypress Parkway, while Dollar Tree, Hibbett Sports, CATO women’s fashions, Sherwin Williams paints, Payless Shoe Source, Amscot Financial Services, Sally Beauty, and GameStop have committed to space in two other buildings.

“We’re in the process of negotiating with several national and regional tenants and hope to have them on board in the coming months,” said Seth Gadinsky, managing partner of Gadinsky Real Estate, LLC.

If permitting and construction go as planned, Gadinsky expects Cypress Plaza to open for business next fall (2007). It would join Wal-Mart, Winn-Dixie and over 70 other shops, businesses and restaurants that currently operate in Poinciana Towne Center, the retail hub and social center of the Poinciana community which is being developed by Avatar Properties Inc. Avatar also is the primary home builder in the 47,000-acre master planned community that straddles Osceola and Polk counties.

The Cypress Plaza developers have nearly 60 years combined experience, building and developing over 2.5 million sq. ft. of commercial real estate including shopping centers, strip centers and free-standing retail and financial institutions throughout Florida and Canada.

Daniel Hotte, president of Echion USA Inc., is a member of the Canadian-based Hotte family which has been actively involved in commercial real estate development for over 35 years in Canada and Florida. Echion is the family’s development arm in Florida.

Gadinsky, who holds a masters degree in civil engineering from Massachusetts Institute of Technology (MIT) and bachelor’s degree in civil engineering from Tufts University, has been developing shopping centers, strip centers and free-standing retail throughout Florida for 24 years.

For leasing and development information about Cypress Plaza, contact Seth Gadinsky at (786) 276-2387. To learn more about Poinciana Towne Center, contact Hank Yunes, Avatar’s vice president of commercial operations, at (305) 442-7000, or Tony Iorio, Avatar’s vice president of land development, at (407) 933-5000.

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