The Seminole Towne Center Mall, an enclosed shopping center originally owned by Simon Property Group and later owned and operated by Hollywood-based 4th Dimension Properties, that serves as the first location for Elev8 Fun, has been sold.

Atlanta-based “The Ardent Companies”, an asset-management firm with multiple divisions including real estate development, has acquired The Seminole Towne Center Mall for $17.5m, in a deal that includes over 50 acres of prime real estate off the I-4 interstate highway. Once a prominent mall in the north Orlando area, the mall has since struggled due to the COVID-19 pandemic, a fluctuating tenant mix, and recurring change in ownership. At present, the mall is home to 4 anchors: Elev8 Fun, Dillards, JCPenney, and Dick’s Sporting Goods, and is flanked by an outdoor shopping center, “The Marketplace at Seminole Towne Center” which features national tenants and recently traded for $68.7m.

Given the mall’s vast acreage, and vacant former Macy’s department store, the property is ideal and thus earmarked for major mixed-use development. Though redevelopment plan details haven’t been officially disclosed by the Mall’s new ownership, Ardent, the Sanford community speculates the mall will attract top retail tenants, office tenants, restaurants, hotels, multi-family complexes, and more, given its location and already-established anchors, coupled with Ardent’s track record in development.

Elev8 Fun acquired the former Sears department store at the mall in 2019, and has operated its first location there since opening in January of 2022. Even with the decline of traditional enclosed shopping centers and retail, and the mall itself, Elev8 has continued to serve its customers with top-of-the-line entertainment, but admittedly, the company is welcoming its new neighbors with open arms and is committed to synergistic collaborations. David Goldfarb, Elev8 Fun Principal, had this to say after the news broke: “We always knew our Sanford location would be a winner long term due to the growth that we’ve seen in the trade area, and the redevelopment potential the mall has thanks to its vast acreage. Now, that long term vision will come into fruition, and we are ultimately excited about collaborating with our new partners to spearhead the entertainment portion at the Seminole Towne Center.” 

On the international front, Walter Kern, PrimeTime Amusements Director of Sales, has worked arduously to further penetrate the company’s targets overseas. Kern, with his team, will exhibit at IAAPA Latin America, in Mexico City next week. PrimeTime will also be present at the “Deal Show” in Dubai, SEA Expo in Saudi Arabia and AAA Expo in China. Kern believes that now more than ever, PrimeTime must reassure its commitment to its customers and partners across the globe. Commenting on the ever-shifting global market for arcade and amusement equipment, he had this to say: “We have found that these markets have a significant demand for our used arcade equipment, so this segment of our business continues to show great opportunity for growth”.

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