CrossMarc Capital Buys Oviedo’s Food Factory for $8.25 Million
Oviedo on the Park just landed a new owner for one of its most popular dining destinations. CrossMarc Capital LP has acquired The Food Factory in an $8.25 million off-market deal — and there’s already a new retail building planned next door.
What Did CrossMarc Capital Buy?
CrossMarc Capital bought The Food Factory, a fully occupied, 14,000-square-foot open-air dining and entertainment venue, along with an adjoining development parcel. The Maitland-based firm negotiated the purchase directly with seller OOTP LLC, managed by Michael Collard of Winter Park-based Michael Collard Properties, who originally developed the property — the deal was never publicly marketed. The Food Factory’s current lineup includes Oviedo Park Pub, Buttercrust Pizza, Little Greek Fresh Grill, Brave Burger, Tacos My Guey, Kai Asian Street Fare, Cafe Bueno, and Grilled Cheezus.
What’s Coming Next Door?
CrossMarc plans to build a new 3,894-square-foot multi-tenant retail building on the adjoining parcel, with Kilwins already signed on. The chocolate and ice cream franchise has committed to 1,200 square feet of the new building, leaving roughly 2,694 square feet still available. Construction is expected to begin in November, and CrossMarc says it’s working on two additional leases it isn’t ready to name yet.
Photo: The Food Factory
Why Oviedo?
CrossMarc’s leadership says Oviedo’s clearly defined identity as a submarket is exactly what made this deal appealing. “I’ve been a big fan of Oviedo for a long time,” CrossMarc president John Crossman told GrowthSpotter. “I like submarkets that are very well defined. When you’re in Oviedo, you know you’re in Oviedo.” The Food Factory sits inside Oviedo on the Park, a mixed-use district built around Center Lake Park that also includes Panera, Starbucks, Five Guys, Ford’s Garage, and hundreds of residential units.
What This Means
For CrossMarc, this deal offers two ways to win: immediate income from a fully leased, popular venue, plus room to grow through new construction next door rather than waiting on appreciation alone. It’s also a vote of confidence in Oviedo on the Park’s continued draw — a well-established mixed-use district still pulling in national and regional retail interest.
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