BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF MAY 4, 2020
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U.S. office market is signaling coronavirus distress, but here's why some see opportunity for growth The coronavirus is putting the commercial real estate market's conventional wisdom to the test. The sector is by many accounts a lagging industry, with unexpected economics shocks often taking months if not ears to surface in the form of unpaid rents, mass vacancies and downward pressure on pricing. The pain will come in time, or so the thinking goes.... |
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Govenor DeSantis announces Aerion Supersonic will move global headquarters to Florida Aerion will build a new state-of-art campus in Melbourne generating 675 jobs in Florida. Governor Ron DeSantis announced Friday that Aerion Supersonic will construct a new state-of-the-art campus - Aerion Park - in Melbourne, Florida.... |
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Tavistock walks away from office deal A proposed deal to bring a Boca Raton timeshare firm to a bourgeoning business park near the Orange County Convention Center reportedly is office the table. Orlando-based Tavistock Development Co. LLC won't move ahead on plans to build a 125,000-square-foot office building in its 200-acre Infinity Park development, Orlando Business Journal has learned. The building would have housed operations for Bluegreen Vacations Corp, which late last year inked a lease for 45,000 square feet of space in the proposed new office building. Tavistock was expected to lease the rest of the space to other tenants... |
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Coronavirus pandemic pauses construction of Orlando's Epic Universe theme park Universal is halting construction on Orlando's newest theme park, Epic Universe, due to the coronavirus pandemic. On a conference call Thursday, Comcast CEO and chairman Brian Roberts announced Universal Orlando Resort will pause construction on the project. It was to open in 2023, becoming the Orlando area's first new theme park since 1999, when Universal opened Islands of Adventure (unless you count Holy Land Experience opening in 2002.)... |
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State to restaurants: Put dining tables on sidewalks, in parking lots Florida wants to help restaurants maximize their ability to earn revenue when they get to serve diners on-site again starting May 4. Officials know that requiring eateries to limit indoor seating to only a quarter of their capacity for now to prevent the spread of the deadly novel coronoavirus "doesn't work" when it comes to making profits... |
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Breaking: Here's when Mall at Millenia will reopen The Mall at Millenia - one of the biggest retail centers in the Orlando area - will fully reopen May 11, General Manager Steven Jamieson say May 1. Before that, the mall will start a merchandise pickup operation for all its stores on May 4 when Gov. Ron DeSantis' reopening executive order goes into effect, Jamieson said during an update at Orange County's Economic Recovery Task Force meeting. Then on, May 11, the mall will fully reopen with reduced hours... |
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Exclusive: Colossal warehouse lands Amazon as a tenant Amazon.com Inc. has struck another massive lease deal in Central Florida - this time for the region's biggest available industrial space. The Seattle-based e-commerce giant will occupy the entirety of an existing 1.1 million-square-foot distribution center at 3015 Coast Line Drive, Orlando Business Journal has learned. The warehouse previously was the Winn-Dixie Distribution Center... |
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