BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF MARCH 30, 2020
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Goodbye hotel, hello apartments: Property may change near Disney Yet another hotel along U.S. 192 may transform into an apartment complex. Owner Carter Hospitality Group LLC - previous owner of the nearby 516-room Red Lion hotel, which is also becoming an apartment complex - wants to convert the 150-unit Saratoga Resort Villas property into a multifamily project, according to Ola County records.The hotel at 487 W. Irlo Bronson Memorial Highway in Kissimmee was built in 1990. The 23-acre property also features a fitness center, sport courts, a pool and vacant land ... |
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Exclusive: Amazon to ink major deal near airport, says sources Amazon's doing it again - again. The Seattle-based e-commerce company reportedly is in talks to sign a 561,750 SF lease to occupy the entirety of 9775 Air Commerce Parkway, real estate sources told Orlando Business Journal. No agreement has been reached. It would be the latest mega-deal for the company in Central Florida, where it also plans to occupy a 1.4 million-square-foot facility in Deltona and a 450,000 SF space in Davenport... |
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New 105,000 SF project proposed near airport A new warehouse may rise near the Orlando International Airport - the most active industrial market in Central Florida. Dallas-based Dalfen Industrial LLC plans to develop a 105,000 SF warehouse at 4840 Hoffner Ave., according to city of Orlando records and real estate sources. The project is called Conway Logistics Center Warehouse... |
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Publix, Aldi and others officially win Lucky's Market's Florida stores, local distribution center in bankruptcy court Publix Super Markets Inc., Aldi and a number of other retailers officially have won the Florida estate that once was home to Lucky's Market. Lucky's, the Niwot, Colorado-based organic grocer that declared bankruptcy in lake January, said Friday that it has sold off assets in a court-supervised bankruptcy court for a total of $29 million, including several Orlando area locations. The sales are subject to a final sale hearing set for Monday... |
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'We don't know:' Retailers, landlords navigate coronavirus confusion Cindy Schooler has been on the phone nonstop with both retail tenants and landlords in recent days, as some of the biggest nation's retail chains - from Subway to The Cheesecake Factory Inc. - have told landlords across the U.S. that they won't be able to pay next month's rent due to COVID-19's disruption of the global economy. it's too soon to tell how everything from the federal stimulus to the length of the coronavirus pandemic will impact retailers, landlords and lenders, said Schooler, the senior vice president and market leader for Dallas-based SRS Real Estate Partners. "We don't know. Until we know what business relief will look like, landlords don't want to commit"... |
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Exclusive: Lake Mary company seeks new office space, sources say One of the region's top insurance brokerage firms continues to grow - and needs more room. Lake Mary-based AssuredPartners Inc. seeks roughly 50,000 square feet of office space in Central Florida, and has looked at its current city, Altamonte Springs and downtown Orlando for new space, real estate sources told Orlando Business Journal. For now, the company's headquarters is at 200 Colonial Center Parkway... |
As businesses close, WeWork tries to lure workers back In the fight against the spreading coronavirus, countless businesses, restaurants, and bars have temporarily shuttered to stop people from congregating. But WeWork, which operates shared workspaces, has kept most of its locations open, As of Tuesday, WeWork's website said only two of its coworking offices in North America were closed and none were closed in Europe. The last public communication about the virus from the company to its customers, which include freelancers, small businesses and large corporations like Amazon, which 12 days ago, in which it listed the precautions it was taking, WeWork has allowed employees who normally staff its locations to work from home, but this week it started to entice some to go in with $100-a-day bonuses, according to an internal memo reviewed by The New York Times... |
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