Article: Altamonte Springs, Fla., Shopping Center Sold, City Center Planned.

Byline: Mike Berry

Mar. 29--ALTAMONTE SPRINGS, Fla. -- A development group with ties to Atlanta and Orlando has purchased a long-dormant shopping center near Altamonte Mall and plans to turn the site into a city center, the group said Thursday.

Altamonte Springs Investments LLC acquired the 14.5-acre North Lake Plaza Shopping Center for $5 million from Morgan Stanley Dean Witter. The site is off State Road 436, behind a Denny's restaurant and west of the mall.

Plans for the property include a stadium-style theater, restaurants and stores. No further details were provided and no tenants were announced.

The investment group includes ...

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