Crossroads shopping center outside Disney World gets 18-month reprieve
The popular shopping center across from the entrance to Disney World is getting an 18-month reprieve before having to close
Crossroads of Lake Buena Vista was to originally close down by the end of 2019. The property is being taken for the next phase of the I-4 improvement project. But at an eminent domain hearing on Monday the Florida Department of Transportation, the property owner and tenants agreed to an extension.
As of now, Growthspotter is reporting that the tenants will be able to remain in the center until at least August 2021.
The shopping center is popular among tourists with restaurants such as Chevy’s, Red Lobster and Buffalo Wild Wings. Gooding’s Supermarket has been a mainstay as the go-to supermarket for many tourists through the years.
Disney developed Crossroads, which is located across from the entrance to the Disney Springs Resort Area Hotels on Hotel Plaza Boulevard. They sold it in 1988 to TH Real Estate, a TIAA-CREF affiliate for $54 million. The shopping center has been appraised at $145 million.
The Florida Department of Transportation plans to eventually reconfigure an Interstate 4 interchange at State Road 535.
