This development project was initiated in 2002 with the acquisition of the 9-acre site, which was then entitled with 55,000 square feet of office / retail / medical uses.  A site plan was crafted that placed the square footage in a series of six single-story buildings in a “village” configuration.  Four of the six buildings are now complete and the fifth is under construction.  The final building will be started in mid-2006.  We are currently leasing this project at net rental rates in the range of $25.00 - $28.00 per square foot.  This project was financed by a combination of $3,500,000 of equity from our investor partners and a $5,260,000 loan from Wachovia.  Due to the project’s unmatched location on Alafaya Trail in east Orlando (which is growing at a record pace), our strategy for this project is to hold long-term.  Additional information is available at the project’s website: www.alafayavillage.com.

This development project was initiated in 2004 with the acquisition of the 3.8-acre site, which is situated at a busy stoplight intersection in Winter Haven, Florida.  The original plan was to improve the site so that it could be subdivided and sold as ready-to-build outparcels.  With the re-opening of Cypress Gardens (adjacent to the rear property line of this property) and the marked increase in retail activity in Winter Haven, the strategy has been amended and now calls for the construction of a 25,000 square foot, two-story office / retail structure on 2/3 of the site.  The remaining acre is still available for purchase or ground lease.  The capitalization of this build-and-hold strategy is currently underway and should provide for the start of construction in the first half of 2006. Additional information is available at the project’s website:
www.cypress-station.com

The Leiman House, located in the Historic Hyde Park District of South Tampa, is a truly exciting renovation and remodeling project. This Frank Lloyd Wright design home, was originally built in 1905. Mainsail has completed a painstaking renovation that returns the glory to this precious home- a newly  designed high-end kitchen, complete renovation of all bedrooms and bathrooms, addition of guest house with three-car garage, pool house and 30' lap pool. The home renovation was completed in December 2005.