Gateway Crossings, FL

 

Gateway-Crossing-Aerial

Vintage Real Estate Fund I, LLC provided partial capitalization for the Gateway Crossings project, which represents a typical site development project with the intent to acquire an existing hotel facility (Cabot Inn), razing the building and the re-configuration of the site for the purpose of selling the improved lots / sub-parcels to end users; which shall include, but not be limited to restaurant, strip retail, convenience store / gas, medical office, hospitality and big box retail.  The above-referenced analysis assumes the sale of all parcels at full retail value.  There will be build-to-suit opportunities presented, which will stand alone opportunities for additional investment, however, the scope of this investment is strictly related to the site development / disposition model as presented.  The Property is strategically located at the NWC of I-75 and Hwy. 90 in Lake City, FL.  This critical interchange represents a significant retail / restaurant and service node due to its location several miles south of the I-10 / I-75 interchange, which also serves the region north of the Gainesville MSA.  This Property is situated in lake City FL (Columbia County), which is known as the “Gateway to Florida” due to this interchange / city being the northernmost FL population base on the main I-75 corridor; a primary corridor carrying a large percentage of Florida’s tourist and commercial traffic.  Additionally, due to Lake City’s strategic interstate network, the Columbia Count Economic Development Dept., the FL Dept. of Economic Opportunity and Enterprise FL, Inc. have come together to create an inland port to handle train and truck freight coming out of the Port of Jacksonville.  The North Florida Intermodal Park is ideally located to serve as a gateway to geographic points in all directions, thus another primary economic driver to Lake City.