Anjali Fluker
Senior Staff Writer-
Orlando Business Journal

As plans for renovations at Orlando Fashion Square mall start to trickle out, we've got an update on new tenants — though still not straight from the horse's mouth.
Among the new tenants will be a 24-Hour Fitness on an outparcel, a BB&T Bank branch location on the corner of Colonial Drive and Herndon Avenue, and 250 apartments on an 8-acre site on Herndon south of the Cady Way Trail, the Orlando Sentinel reported....

Anjali Fluker
Senior Staff Writer-
Orlando Business Journal

Scott Fish is looking forward to seeing Orlando Fashion Square mall on Colonial Avenue near downtown Orlando transformed.
Fish, principal of Franklin, Tenn.-based UP Development Inc., talked with me about what's being planned for the $25 million-plus redevelopment of the mall, which his firm took over for $35 million on Feb. 12.

Clermont-based Schmid Construction Inc. was named the project general contractor, as I told you earlier this week, and it's awaiting permits to begin demolition on parcels adjacent to the mall — soon to be redeveloped into a BB&T Bank branch.

By Sandra Pedicini, Orlando Sentinel
7:17 p.m. EST, February 12, 2013

Orlando Fashion Square has been sold to UP Development of Franklin, Tenn., for $35 million in cash.

Pennsylvania Real Estate Investment Trust announced late Tuesday that it had sold Fashion Square and will realize a $600,000 gain in the first quarter.

Sales at the retail property on East Colonial Drive in Orlando were $233 a square foot, and non-anchor occupancy was 80.7 percent as of Dec. 31. Both those figures were below PREIT's portfolio averages.

The mall, near Orlando Executive Airport and Baldwin Park, has lost many of its chain stores, and many new tenants are small independents with high turnover.

UP Development's other Orlando properties include Shoppes at Alafaya Trail and Millenia Plaza.