BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF JUNE 8, 2020
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JCPenney at Orlando Fashion Square Mall among 154 store locations set to close ORLANDO, Fla - JCPenney is permanently closing 154 stores across 20 states this summer as part of its bankruptcy plan, and one of the stores being closed is at Orlando Fashion Square Mall The company, one of the most high-profile retailers to file for bankruptcy protection after being hit hard by the coronavirus, said it expects store closing sales to last around three months, and it will announce additional closures in the coming weeks... |
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Why there's enormous depth to the industrial real estate market in this county In the past three years, lake county's industrial market quietly sat on the edge of Central Florida, attracting small new commercial buildings every so often. Now, it's about to explode... |
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Certifiably clean: This could be the future for office buildings There are numerous building certifications that aim to promote wellness and sustainability in structures. But what about a pandemic certificate showing a building owner's commitment to limiting the spread of disease... |
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Office towers are still going up, but who will fill them? Before the pandemic shut down businesses, a robust economy had powered a building boom, sending office towers skyward in urban areas across the United States. The coronavirus outbreak through, has scrambled plans and sent jitters through the real estate industry. skyscrapers scheduled to open this year will remake skylines in cities like Milwaukee, Nashville, Tennessee, and Salt Lake City. Office vacancy rates, following a decadelong trend, has shrunk to 9.7% at the end of the third quarter of 2019, compared with 13% in the third quarter of 2010, according to Deloitte... |
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Tupperware to sell 740 acres. Here's what may happen next The sale of hundreds of acres by Tupperware Brands Corp.- one of Central Florida's largest publicly traded companies - may result in the development of more apartments, retail, and office space. Orlando-based Tupperware plans to sell 740 acres in both Orange and Osceola counties through its related entities, Deerfield Land Corp and Tupperware Services Inc to its longtime New York-based development partners... |
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Hotel, apartments and more to rise in fast-growing area Another mixed-use project has been proposed in the Horizon West community. A request has been submitted to Orange County's development review committee to rezone 24.4 acres for 270 apartments, a 15,000-square-foot daycare center, 15,000 square feet of retail space, 15000 square feet of medical office space, and a 125-room hotel with a 4,400-square foot restaurant, Orange County records showed. The property is near 7550 Avalon Road... |
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Why foreclosures may be 'slow moving' for local properties Central Florida landlords are suing tenants over missed rent payments, and properties that landlords own are being added to Watch Lists of potentially troubled loans. Real estate is one of several industries facing upheaval due to the coronavirus pandemic. But it may take months before evictions and foreclosures in commercial real estate are legally resolved, real estate experts said... |
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Medical marijuana grow site may rise in Apopka Central Florida's exploding medical marijuana industry has attracted a new grower. A medical marijunana growing facility is expected to be built on 4.94 acres at 251 E Keene Road, according to the city of Apopka planning commission documenets. It wasn't confirmed who the company is that wants to develop it, but Tara Tedrow- shareholder and chair of the cannabis and controlled substances group at Orlando-based Lowndes - is representing the group... |
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Hey bark-tender: Doggie bar wants to open near downtown A watering hole proposed near Lake Ivanhoe aims to offer space for patrons who want to crack one open with their canines. Orlando-based Wag Bar LLC seeks approvals from the city of Orlando's municipal planning board on July 21 to create a dog bar on 0.5 acres it owns at 724 Brookhaven Drive, according to city records. The owners seek to demolish several buildings and remodel the main structure onsite, which faces the Orlando Urban Trail... |
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