BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF JUNE 29, 2020
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A multibillion-dollar opportunity: Virus-proofing the new office Truework, an income verification startup, recently introduced software to help employers keep track of their workers' health status. Gensler, an architecture and design firm, has a workplace floor-planning app that generates social-distancing layouts for desks and other office furniture.. |
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Which towns and cities will be post-pandemic winners? Richard Florida and his wife and children spent most of lockdown in tehir apartment on Miami Beach. When they returned home to Tornoto, the city had changed. "When we left, you couldn't get stuff readily delivered here," he reported over Zoom. "I literally pressed the Instacart button five minutes before I connected to you...and [my order] will be here in half an hour." Florida is the urban theorist who coined the term "the creative class' and spotted its takeover of the world's city centres. He's barely thought about pandemics before, despite being born during the great flue outbreak of 1957 - his parents never mentioned it... |
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$213.2M worth of housing proposed in popular area A 3.5-mile stretch along US Highway 17-92 in Seminole County has attracted sizable development interest in recent months. Three proposed projects totaling more than 1,100 apartment and town home units may bring more residents to this area, furthering demand for more retail and other services. These projects combined may cost more than $213.2 million to build, based on industry standards...
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Swish: Michael Jordan-themed store a done deal for downtown A trio of new retailers - including a Michael Jordan-themed store - have signed retail leases to open downtown. Marcus Jordan - son of NBA legend Michael Jordan and owner of The Trophy Room - has officially signed a roughly 2,000-square-foot, 10-year lease agreement to open his shop at 50 S Rosalind Ave... |
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Behind the deal: Backstreet Boy to build $35M seaside project Howie Dorough has heard it all before about Coco Beach - occasionally derided as a sleepy surfer town east of Orlando. But the Backstreet Boys co-founder and his brother, John, know the community is attracting attention from new developers. In fact, through entity Coco Beach Development Group, LLC, the two plan to start construction this fall on the $35 million The Surf at Coco Beach, a luxury condo project.... |
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Wahlburgers in downtown Orlando closes amid COVID-19 pandemic Orange County, Fla - Wahlburgers in downtown Orlando has closed its doors permanently, according to a press release. "The restaurant industry has been impacted greatly by the COVID-19 pandemic, and unfortunately m the Wahlburgers franchisee for the downtown Orlando Wahlburgers restaurant has made the difficult decision to permanently close its doors"... |
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Developer reveals next step for $1B mixed-use redevelopment There's still more planning and discussion that needs to occur before a 128-acre shuttered Orlando golf course sees a major redevelopment. That's according to Jakub Hejl, president of the Miami-based developer Westside Capital Group, which has proposed what may become a $1 billion investment in the Rosemont commmunity featuring green space, public art, a city center, new retail, and high-end residences. The project would replace the Lake Orlando Golf Club, located at 4224 Clubhouse Road, which closed in 2014 ... |
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Mills 50 building to be demolished, new construction proposed A 56-year old building in a trendy Orlando neighborhood is slated to meet the wrecking ball. Property owner Colonial Investments of Orlando LLC plans to demolish 723 N. Mills Ave. - a former 7-Eleven near the intersection of Colonial Drive - and build roughly 8,800 square feet of retail and commercial space there, according to the city of Orlando documents... |
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