Progressive Capital Group Acquires Golden Corral Restaurant Property For $7.2M Near UCF

A property near the University of Central Florida, currently housing a Golden Corral restaurant, has been acquired for $7.2 million by 50 South Property Owner LLC, linked to Progressive Capital Group. The 3.6-acre site located at 11731 East Colonial Drive in Orlando is slated for redevelopment into student housing. The plans for the redevelopment have already been approved and include 555 bedrooms across 166 apartment units, tapping into the demand for student housing near UCF.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $7,200,000
• Address: 11731 East Colonial Drive
• Market: Orlando
• Acres: 3.6
• Buyer: Progressive Capital Group - Russell Greer
• Seller: East Colonial LLC - Eric Holm; Metro Corral Partners LLC
• Square Footage: 12,300
• Price per Square Foot: $585

Progressive Capital Group, represented by Russell Greer, purchased the property from East Colonial LLC, represented by Eric Holm, and Metro Corral Partners LLC. The acquisition allows Progressive Capital Group to redevelop the site into student housing, taking advantage of its proximity to the University of Central Florida. The plans have already been approved and the redevelopment will consist of 166 apartment units with a total of 555 bedrooms. The project addresses the high demand for student housing in the area.