BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF APRIL 20, 2020
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Coronavirus accelerate CRE trendlines The Covid-19 pandemic is expected to “accelerate” trends that were already taking hold in the commercial real estate industry prior to the health crisis, according to a prominent national trade group. Along the Golf Coast and into Central Florida, leaders with several of the industry’s foremost groups concur that while the novel coronavirus has generated upheaval and tragedy throughout the state, for much of the commercial real estate industry regionally, the disruption could be relatively short term — if new cases of Covid-19 diminish over the coming weeks.... |
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City manager: It may become more affordable to develop here It may cost less to develop in Altamonte Springs. That's as long as an ordinance is passed April 21 to lower the city's transportation fees for development, City Manager Frank Martz told Orlando Business Journal. The lowered fees come as the city of Altamonte Springs has worked with Seminole County to stop collecting fees within the city. In the past, both the city and the county had separate transportation fees... |
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Touchless fixtures, food cameras: How retail may change post pandemic The glass partitions may stay up in stores at cash registers long after the pandemic leaves, as retailers aim to offer a variety of measures to make customers feel safe again, experts say. Other such changes range from subtle — such as touchless doors and sink handles — to not-so-subtle, such as bringing some retail items behind a counter instead of open for everyone to touch. The ideas being bandied about show just how quickly the novel coronavirus has changed retail businesses, much of which had to shutter or reduce service due to stay-at-home orders.... |
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Buyer reportedly walks away from Winter Park Village deal The potential sale of Winter Park Village — one of Central Florida's largest retail centers — may not be happening as the COVID-19 pandemic delays retail deals across the region. New York-based real estate investment trust Kimco Realty Corp. (NYSE: KIM) no longer is interested in buying the upscale mixed-use asset, which features restaurants, office space, a movie theater, a Publix and more, Orlando Business Journal has learned. New York-based Eastdil Secured LLC was listing the shopping center for up to $150 million. The roughly 30-acre property is on U.S. Highway 17-92 near the intersection of Lee Road in the upscale city of Winter Park.... |
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