BREAKING COMMERCIAL REAL ESTATE NEWS
GREATER ORLANDO METRO
WEEK OF JULY 20, 2020
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Orlando land brokers, owners see uptick in calls for property Robbie McEwan's phone won't stop ringing. McEwan told Orlando Business Journal he's getting five to 10 times the amount of calls about buying land than he did this time last year. The calls are coming from around the U.S. and world, he said, as investors want to put money into safe assets during this period of economic uncertainty caused by the Covid-198 pandemic... |
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Downtown '5-star convention hotel' project to break ground The developer of a proposed 33-story project in Thornton Park wants to start construction late next year. That's according to Naples-based developer Summa Development Group LLC's Principal Albert Socol, who shared with Orlando Business Journal the latest plans. Soco hopes to start construction in fourth-quarter 2021 and wrap up in fourth-quarter 2023... |
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Crane Watch: New hotel, office projects and more planned in Orlando It wouldn't seem like a good time to plan hospitality projects with the Orlando area's average hotel occupancy rate hovering around a dismal 30% due to the Covid-19 pandemic. But several hotels have been proposed in recent weeks, including near Walt Disney World. And one proposed hotel near the Space Coast has revealed new renderings...
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American Land Development to develop hundreds of acres in Apopka A local entrepreneur - whose fortune came from selling his video rental business to Blockbuster - looks to tie up hundreds of acres in a city northwest of Orlando for new commercial development. ... |
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HostDime to move ahead with long-awaited office project Construction on the future home of HostDime.com Inc. - one of the region's largest tech employers - is expected to start in August despite uncertainty in the office market due to Covid-19. That's according to CEO Manny Vivar who said the roughly $25 million, 90,000-square-foot office project in Eatonville is more of a data center than an office building. Office will make up 35% of the structure... |
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CTO Realty sells land to Avalon Park developer Beat Kahli and Jeff Fuqua were riding around the countryside in Switzerland last summer when the two started discussing thousands of acres in the Daytona Beach area. Fuqua - former chairman of the Consolidated-Tomoka Land Co. that's how known as CTO Reality Growth - knew the Daytona Beach-based company wanted to sell this massive amount of land to a developer. And he figured Kahli - a Swiss national and preside and CEO of Orlando-based developer Avalon Park Group - might be the perfect fit... |
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Exclusive: Downtown Taco Bell Cantina delays opening One of downtown Orlando's most anticipated restaurant openings will be delayed more than a year. Louisville, Kentucky-based Yum! Brands Inc now plans to open its Taco Bell Cantina in early 2021 at 1 S. Orange Ave., a company representative told Orlando Business Journal. The Cantina concept offers tapas-style menu items, USB ports, and serves beer, wine and sangria, as well as the option to get Taco Bell's frozen drinks spiked with rum, tequila, and vodka... |
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Three residential projects mulled in Osceola County A nearly seven-decade-old motel in Kissimmee along a busy road - once a main artery into Walt Disney World- may transform into something new. Owner Nulinc LLC is exploring potentially converting the Friendly Motel at 2550 E Irlo Bronson Memorial Highway - built in 1955 - into apartments or condos... |
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Fast-growing Brevard County expected to see new industrial development A Central Florida county long overlooked for industrial development is receiving more attention in recent years - and soon may become a hotbed for future construction activity. Brevard County - east of Orlando and stretching along the Atlantic Coast - had been excluded from the search for industrial space until recent e-commerce explosion sent developers companies like Seattle-based Amazon.com Inc. scurrying for space across the U.S. and region to deliver goods to people faster... |
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Wahlburgers closes final remaining Florida location, at Waterford Lakes Wahlburgers, the restaurant chain started by Mark, Donnie and Paul Wahlberg, is leaving the Orlando area, due to the coronavirus pandemic, the restaurant said in a social media post on Friday... |
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