BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF JUNE 15, 2020
|
When the office is like a biohazard lab Here's what it will be like when employees at Cisco, the American telecommunications equipment maker, return to the office. Before heading in each day, workers will be required to log on to a new app the company designed and answer several questions about their health. Have they had close contact in the last 14 days with anyone who has received a COVID-19 diagnosis or is suspected of having a coronavirus infection? Within the last 24 hours have they experienced chills, shortness of breath or a loss of taste or smell... |
|
|
|
Buyer's remorse: Mall deal implodes as virus shakes retail NEW YORK - The nation's largest mall owner is backing out of a $3.6 billion deal to buy a major rival as the coronavirus pandemic shakes and retail industry Simon Property Group announced it would buy Taubman Centers in early February, just weeks before the Centers for Disease Control and Prevention announced the first known case of coronavirus in the U.S. Clothing stores and malls nationwide were ordered to close the following month... |
|
As stores shutter, here's what's next for Winter Park Retail Passholders for Universal Orlando Resort had a chance to go inside and experience the new safety procedures before it opened to the general public Friday. Proving passholders have been eager to get back to the parks, cars poured into Universal garages...
|
|
|
|
|
Hotel near Disney to be morph into 'gray collar' housing Another hotel near Walt Disney World may become apartments. Provo, Utah-based PEG Cos. seeks to convert the 103-room Hawthorn Suites at 2950 Reedy Creek Blvd. into an apartment complex with 99 one-bedroom units and four, two-bedroom units, according to Osceola County documents.. |
|
Earl Enterprises may reopen Winter Park Brio Italian, bring Bravo Italian back to Orlando The Orlando-based owner of Planet Hollywood is in discussions to bring back Winter Park's Brio Italian Mediterranean and could also return Bravo Fresh Italian to Orlando after taking over the two restaurant chains. Earl Enterprises has acquired a minimum of 45 leases from FoodFirst Global Restaurants, chairman Robert Earl said, but he is hopeful that number ends up being considerably higher. FoodFirst, which moved from Columbus, Ohio, to Orlando in 2018... |
|
|
|
Behind the deal: How Florida's biggest medical marijuana real estate deal came to be Last year, Frank Silverman called Trey Vick to tell him some bad news - the deal was off. Silverman, who owns Orlando-based Vision Development and Management LLC with partner Mike Metzger, had planned to buy property from Vick, the CEO of Maitland-based developer V 3 Capital Group, LLC... |
|
Why local contractors are 'very concerned' about future work Construction has remained a relatively resilient industry during the pandemic - even seeing nationwide employment growth in May - but Central Florida contractors are concerned about business in the months ahead. Some local construction firms have seen future projects getting delayed or shelved as building owners and developers face uncertain economic future due to the pandemic's negative impact on the economy. New construction creates jobs, making it an important regional economic driver. And the industry employs roughly 90,800 people locally who are paid an average of $15.32 per hour, according to the U.S. Bureau of Labor Statistics... |
|
|
|
Winter Park sued by developer after repealing controversial Orange Avenue Overlay District Real estate firm Demetree Global has filed a lawsuit against the city of Winter Park for scrapping a zoning ordinance plan last month aimed at redeveloping 75 acres of land through the Orange Avenue corridor. The plan, known as the Orange Avenue Overlay District, was approved Mark 9 and repealed three weeks later at a special meeting after two new commissioners took office. City staff said the district was meant to lure new development, making the area more walkable, set new architectural standards and increase open space... |
|
Why this developer is moving ahead with a retail project right now lamont Garber drove around Maitland for months before he found it. A "For Sale" sign hung outside the nearly 40-year-old bank building at 360 E. Horatio Ave. that Garber felt held potential for a new use. Around it, the area was teeming with new development, including the $68 million mixed-use Maitland City Centre. Garber's Maitland Capital LLC bought the building for $1.3 million in September 2018 and started working to secure approvals for a new adaptive use retail project... |
|
|
|
New entertainment, more retail spaces in the works at Icon Park Icon Park plans to create an immersive marketplace experience on its front lawn with 15 semi-permanent retail and food kiosks, as well as convert part of its parking garage into retail space.
It's all part of an effort to draw locals to the now-deserted International Drive tourist corridor after the pandemic clobbered the region's $75.2 billion tourism industry... |
|
