BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF APRIL 27, 2020
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Exclusive: Here's what's next for Orlando Magic's $500M downtown project There's a little extra magic in the works for a highly-anticipated, mixed-use project near the Amway Center. The Orlando Magic's $500 million Sports & Entertainment District (SED) is lining up all the necessary paperwork to make a push for construction in the near future. Many details on the project's timeline still are being determined, but it's making progress toward becoming a reality.... |
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Orlando retailer says May will be 'record month' for sales Grooming is booming for one local dog salon company. That's according to Paul Allen— CEO of Orlando-based pet retailer Woof Gang Bakery Inc. — who forecasts May being a "record month" for sales. That's because some of his more than 130 stores nationwide are getting 200-300 calls daily for appointments next month, which is pretty high considering a groomer can handle just 10 appointments a day.... |
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Downtown-area Starbucks to become Foxtail Coffee A popular Orlando coffee company will set up shop in what once was home to a downtown-area location for the world's biggest corporate java chain. Foxtail Coffee Co. LLC seeks approvals to build out a 1,920-square-foot SoDo location at 2453 S. Orange Ave., a former home to Seattle-based Starbucks Corp. (Nasdaq: SBUX), according to city of Orlando permits. The buildout may cost $300,000, and the general contractor is Winter Springs-based R.B. Marks Construction Inc.... |
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New doughnut shop cooks up plans to open in downtown A new doughnut shop may come out of the oven soon in downtown Orlando. Orlando-based Pattie-Lou's Donuts LLC wants to sign a lease with the city of Orlando for an 835-square-foot space at 139 E. Pine St., city records showed. The six-year lease is expected to start May 1 and the tenant would pay $1,541.97 per month to lease the space. City Council is expected to vote April 27 on the lease agreement... |
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Retail revolution: Landlords and tenants face red flags and big changes Central Florida retail landlords likely are losing sleep over the financial wreckage the coronavirus has left many tenants in with no current end in sight. Fewer retail sales are leaving tenants with little revenue, and that has left shopping center landlords struggling to collect rent to pay their mortgages. As a result, eight Central Florida shopping centers have landed on the so-called Watch List loans, according to American City Business Journals research. The disclosures are a monthly ritual on Wall Street to keep investors in commercial mortgage-backed securities (CMBS) apprised of the health of the properties backing their portfolios... |
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New project proposed at Lake Nona Town Center A new five-story building is slated to rise in Tavistock Development Co.'s Lake Nona Town Center. An unnamed applicant seeks approvals for a mixed-use building with a bank and drive-thru at 6955 Lake Nona Blvd., according to a master plan filed with the city of Orlando. A Tavistock spokeswoman confirmed it was a Tavistock project, but declined to share specifics and said the developer officially will submit plans to the city this week... |
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