News

  • ContraVest buys land on Universal Blvd for second-phase apartments

    ContraVest buys land on Universal Blvd for second-phase apartments

    Altamonte Springs-based ContraVest paid just over $7.07 million on Tuesday for the site of its second phase of apartments on Universal Boulevard, with an expectation to break ground by April, a lead executive with the company told GrowthSpotter.  The developer, builder and manager of market rate...

  • Orlando City SC's plans for parking around downtown stadium detailed on new map

    Orlando City SC's plans for parking around downtown stadium detailed on new map

    Orlando City Soccer Club will seek approval next week for five new gameday parking lot sites around its Downtown Orlando stadium set to open March 5, and in the process has shared its event parking map that affirms plans for land neighboring the stadium.  OCSC is requesting temporary use permits...

  • National tour operator seeks tax incentives to make Orlando its co-headquarters

    National tour operator seeks tax incentives to make Orlando its co-headquarters

    Los Angeles-based American Tours International is considering Orlando for a new co-headquarters, and is seeking $47,000 in tax incentives from the City of Orlando over the next six years.  ATI offers Visit USA programs that include group bus and air tours, and has offices in New York, Beijing,...

  • Chicago investor pays $6M for 26-acre resort on W192

    Chicago investor pays $6M for 26-acre resort on W192

    Chicago real estate investor Rob Jarvis paid $6 million last week for the Champions World Resort on Kissimmee's W192 tourism corridor, and is eyeing more assets in the Orlando market. The resort property sits on 26 acres west of the S.R. 429 Beltway and consists of multiple 1970s-era, two-story...

  • Taurus buys Eatonville land to expand office complex footprint

    Taurus buys Eatonville land to expand office complex footprint

    The Maitland office of global real estate firm Taurus Investment Holdings paid $950,000 on Monday for land to expand its parking for the Reserve at Maitland office complex on W. Kennedy Boulevard, in Eatonville.  Attorney Ken Clayton, president of Kennedy Commercial LLC, confirmed that his family...

  • Miami-based firm uses 1031 exchange to buy strip mall in busy Altamonte corridor

    Miami-based firm uses 1031 exchange to buy strip mall in busy Altamonte corridor

    Miami-based TCII Capital Group added to its Greater Orlando portfolio last week with a $2.325 million acquisition of a strip mall in Altamonte Springs’ busy S.R. 434 corridor. The full-service real estate firm bought two multi-tenant buildings just north of Sand Lake Road and next to Lake Brantley...

  • Reich Properties preps McCoy Road land for lease to neighboring auto dealer

    Reich Properties preps McCoy Road land for lease to neighboring auto dealer

    Reich Properties is pursuing a zoning amendment for 5.22 acres northeast of Orlando International Airport, with aim to lease it to a neighboring used auto dealer that's setting up for expansion.  Located at 8281 McCoy Road, the vacant parcel neighbors another 5.22 acres owned by a Reich affiliate....

  • Local developer files first housing plan for Creative Village, doubles footprint

    Local developer files first housing plan for Creative Village, doubles footprint

    Winter Park-based Atlantic Housing Partners filed plans on Monday for the first new development in the 68-acre Creative Village urban infill project in Downtown Orlando, more than doubling its original projected investment from last year.  The multifamily developer's site plan calls for a 256-unit...

  • Seritage seeks demo permit for Fashion Square Sears, changes outparcel plans

    Seritage seeks demo permit for Fashion Square Sears, changes outparcel plans

    New York-based REIT Seritage Growth Properties is preparing to demolish the former Sears building it owns at Orlando Fashion Square Mall, and has added another outparcel to its retail and dining plans for the property.  Seritage filed a demolition permit request on Friday with the City of Orlando...

  • Atlantic Aviation plans third hangar for private jets at MCO airport

    Atlantic Aviation plans third hangar for private jets at MCO airport

    Atlantic Aviation is pursuing construction permits to build its third private aircraft hangar west of Orlando International Airport, a projected $5 million investment driven by growing airport traffic and larger jets entering the market, the company's area general manager told GrowthSpotter.  Atlantic...

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  • Winter Park seeks bids from residential developers for Blake Yard site

    Winter Park seeks bids from residential developers for Blake Yard site

    The City of Winter Park will seek purchase bids and development proposals over the next month for a 0.45-acre public property in its downtown envisioned for new townhomes, according to a Notice of Disposal published on Monday. Located at 301 W. Comstock Ave., one and a half blocks from Park Avenue,...

  • Unloading his 'Promised Land:' veteran CRE investor lists Parramore portfolio

    Unloading his 'Promised Land:' veteran CRE investor lists Parramore portfolio

    Philip T. Cowherd lives in Winter Park, and grew up in College Park. But, says the life-long investor in local real estate, “my whole world is Parramore.” Now 70, Cowherd has been accumulating properties in Downtown Orlando for 40 years, just like his father before him and just as his two sons,...

  • Car Wash Palace eyes 4th location on John Young Pkwy, in new Grande Lakes Plaza

    Car Wash Palace eyes 4th location on John Young Pkwy, in new Grande Lakes Plaza

    Orlando-based Car Wash Palace has roughly an acre under contract for its fourth regional store, part of a retail center planned by Toronto-based North American Development Group (NADG) east of the tourism corridor. Located northeast of the intersection of John Young and Central Florida parkways,...

  • Straubcos building in SoDo district sells for nearly $1M; dental office coming

    Straubcos building in SoDo district sells for nearly $1M; dental office coming

    A 91-year-old building on the south side of Downtown Orlando will soon get a makeover, as new owners will shift tenancy from real estate to a dentist’s office. The former Straubcos Real Estate Solutions building at 1737 S. Orange Ave. was acquired Tuesday by South Downtown Retail LLC, an affiliate...

  • United Legacy Bank acquires third branch location in Winter Park

    United Legacy Bank acquires third branch location in Winter Park

    Longwood-based United Legacy Bank paid $3 million on Wednesday through its parent company for a former Regions Bank branch in eastern Winter Park, boosting the community bank's footprint to six locations across Greater Orlando.  Located at 2200 Aloma Ave., the 1.02-acre property features a 3,532-square-foot,...

  • Mama B's Giant Subs site on N. Orange under contract to local retailer

    Mama B's Giant Subs site on N. Orange under contract to local retailer

    Orlando-based Magic Pet, a premium pet food, supply and grooming business, has the former Mama B's Giant Subs property near Orlando's North Quarter under contract, potentially bringing new retail to one of the most highly trafficked corners in downtown. Located at 692 N. Orange Ave. on the southwest...

  • Oviedo Mall sells for $15.3M, new owner promises renovations & new retailers

    Oviedo Mall sells for $15.3M, new owner promises renovations & new retailers

    The new owner of Oviedo Mall will be hiring hundreds of local workers this year as it looks to renovate and revitalize the aging property built in 1998, a lead executive with the company told GrowthSpotter.  Los Angeles-based International Growth Properties, via affiliate Oviedo Mall Holding LLC,...

  • Peacock to put $6M+ into Ford dealership redevelopment, pursue more assets

    Peacock to put $6M+ into Ford dealership redevelopment, pursue more assets

    Peacock Automotive will invest $6 million or more over the next 16 months on extensive redevelopment of its recently acquired Don Reid Ford dealership in south Maitland, and may pursue more local properties this year, president and CEO Warner Peacock told GrowthSpotter.  Located at 1875 S. Orlando...

  • Head of local medical center chain pays $2.7M for Belle Isle mansion

    Head of local medical center chain pays $2.7M for Belle Isle mansion

    The founder of two local medical service firms paid $2.7 million on Feb. 9 for a lakefront estate in Belle Isle.  Located on Daetwyler Drive, the 3.7-acre estate bordering Lake Conway is gated and walled. Inside, the 7,158-square-foot home came partially furnished in the sale, and features six...

  • Orlando City's land east of soccer stadium faces months of soil remediation

    Orlando City's land east of soccer stadium faces months of soil remediation

    Orlando City Soccer Club should open its new Downtown Orlando stadium on March 5 as expected, but land the club owns directly to its east still has months of excavation and soil remediation ahead before it can be utilized.  OCSC's land owner affiliate has spent more than $25.52 million on property since...

  • Duke Realty plans warehouse on land owned by Brazilian real estate family

    Duke Realty plans warehouse on land owned by Brazilian real estate family

    National publicly-traded REIT Duke Realty Corporation has nearly 15 acres under contract in the tourism corridor neighboring the Tangelo Park community, with plans for a build-to-suit warehouse and storage facility. Located at 7133 Municipal Dr., the 14.6-acre parcel lies two blocks off of International...

  • Developer considers medical complex near new Valencia College campus

    Developer considers medical complex near new Valencia College campus

    A South Florida investor wants to develop up to 60,000 square feet of Class A medical offices across from the Bellalago community on Pleasant Hill Road, but zoning and environmental constraints could make the project unfeasible at that location. Guillermo Pulgarin and his broker, Tim Weisheyer,...

  • Alabama hotelier to break ground in April on new Home2 Suites near airport

    Alabama hotelier to break ground in April on new Home2 Suites near airport

    An Alabama hotel company that's opening three new hotels in Orlando's tourism corridor is gearing up to break ground on a fourth property near Orlando International Airport. Fast-growing LBA Properties, based in Dothan, has filed construction plans with the St. Johns River Water Management District...

  • Meritage & Greystar under contract for parts of Grenada land in Dr. Phillips

    Meritage & Greystar under contract for parts of Grenada land in Dr. Phillips

    A national homebuilder and multifamily developer have emerged as contracted buyers for about 56 of 85 acres along Turkey Lake Road that are considered one of the last large infill opportunities in the Dr. Phillips housing submarket. Based southwest of the intersection of Sand Lake and Turkey Lake...

  • Groveland's boundary redefining mixed-use project Villa City faces Feb. 22 vote

    Groveland's boundary redefining mixed-use project Villa City faces Feb. 22 vote

    Groveland is set, once again, to vote on annexing a 2,467-acre assemblage planned for mixed-use development as Villa City, a land mass that has the potential to double the city's size. The city voted on it last fall, but then the town was roiled by the revelation that its mayor was a convicted...

  • Miami developer named for Tru Hotel project on Westwood, south of OCCC

    Miami developer named for Tru Hotel project on Westwood, south of OCCC

    Miami-based Epelboim Development Group has produced plans for an eight-story, 259-key Tru by Hilton hotel south of the Orange County Convention Center, with the land under contract and potentially more to come.  Proposed for 6461 Westwood Blvd., the company has 4.46 acres of the parcel under contract...

  • St. Cloud seeking millions from state for downtown redevelopment projects

    St. Cloud seeking millions from state for downtown redevelopment projects

    St. Cloud City Manager Joe Helfenberger said the city is seeking millions in state funds to launch an ambitious downtown redevelopment that includes new infrastructure and the first phase of Centennial Park. Helfenberger said the city wants to convert two of its main historic brick streets -- New...

  • Mattamy Homes USA president buys home in Bay Hill from former PGA pro

    Mattamy Homes USA president buys home in Bay Hill from former PGA pro

    When he sold his sprawling lakefront mansion in the exclusive Isle of Osprey neighborhood last year, Mattamy Homes USA President Jim Leiferman was planning to do the unthinkable. "I'm going to do something I said I’d never do, which is to build my own home," he said at the time. "It’s kind of the...

  • NGI Investments plans new retail in tourism corridor and Winter Park

    NGI Investments plans new retail in tourism corridor and Winter Park

    Retail developer NGI Investments is preparing new single- and multi-tenant projects in the tourism corridor and Winter Park, with construction loans to be sought for building shells that must be delivered in the next nine to 12 months, the company's president told GrowthSpotter.  Located at 8101...

  • Winter Park favors seven local architecture, engineering firms for continuing services

    Winter Park favors seven local architecture, engineering firms for continuing services

    The City of Winter Park should begin negotiations this month with seven local architecture and engineering firms for continuing service contracts. The city published four separate Request for Qualifications (RFQs) in early December for professional services related to architecture, transportation...

  • Sun Terra in talks with Meritage Homes for San Pedro land

    Sun Terra in talks with Meritage Homes for San Pedro land

    Eco-friendly builder Meritage Homes has been named as possible developer or exclusive homebuilder for a new 700-home community planned on the 200-acre San Pedro Center land previously owned by the Catholic Diocese of Orlando. Sun Terra Communities, backed by New York private equity firm JEN Partners...

  • Excelsior Capital preps 38 acres on Palm Parkway for retail/commercial

    Excelsior Capital preps 38 acres on Palm Parkway for retail/commercial

    Englewood, Colo.-based Excelsior Capital Partners is preparing for potential retail/commercial development on 38.8 acres it owns in Orlando's tourism corridor along Palm Parkway.  The investor in distressed debt and real estate filed mass infrastructure plans on Thursday with the South Florida...

  • Morgan & Morgan attorney pays $1.8M for Winter Park home, sells lakefront lot

    Morgan & Morgan attorney pays $1.8M for Winter Park home, sells lakefront lot

    A prominent Orlando personal injury attorney and his wife paid $1.819 million on Jan. 31 for a new Winter Park home for their growing family, days after parting with a lakefront site where they had planned a custom build.  The buyers were Matt Morgan of Morgan & Morgan and Kassidy Morgan, who married...

  • Developer to raze ChampionsGate bank for more restaurants

    Developer to raze ChampionsGate bank for more restaurants

    A St. Petersburg retail developer has bought a Regions Bank at the main entrance to ChampionsGate but plans to demolish the building and replace it with two restaurants. An affiliate of Vantage Properties paid $1.3 million this week for the 1.3-acre outparcel next to Publix. Vantage Vice President...

  • Powertools manufacturer plans new distribution center near Orlando airport

    Powertools manufacturer plans new distribution center near Orlando airport

    Virginia Beach-based powertools manufacturer STIHL, Inc., is preparing to double its footprint in Orlando, working with Liberty Property Trust to develop land west of Orlando International Airport for a new 155,000-square-foot distribution center.  Planned for 2904 Tradeport Dr., the 12.98-acre...

  • Consultant to CFX: Don't spend toll money to subsidize SunRail

    Consultant to CFX: Don't spend toll money to subsidize SunRail

    A transportation consultant cautioned the Central Florida Expressway Authority board members on Thursday against using future toll revenues to prop up SunRail as the federal subsidy for that system goes away. The commuter train is owned and operated by the state Department of Transportation, but...

  • Former Google executive buys $2.65M Celebration estate

    Former Google executive buys $2.65M Celebration estate

    A pioneer in the online and mobile payment industry just bought a $2.65 million vacation home in Celebration. Mike and Diane Blandina closed on the six-bedroom, six-bath Tuscan-style estate home on the 300 block of Acadia Lane this month. Mike Blandina is EVP and chief technology officer for retail...

  • Orange County seeks utility engineering services

    Orange County seeks utility engineering services

    Orange County commissioners are looking for a civil engineering firm to handle a continuing services contract for the county’s utilities division. The county issued a request for proposals (RFP) Tuesday for firms to handle water and wastewater projects that may have a relatively small work effort...

  • The Villages buys more land in Leesburg

    The Villages buys more land in Leesburg

    The Villages Land Co. LLC bought 241 acres in Leesburg for $4.3 million from Pride Homes of Lake County, per a deed recorded Feb. 6. The land is on the west side of the Florida Turnpike, north of State Road 470 and east of the Sumter County line. As is its custom, The Villages did not return calls...

  • Arizona REIT buys multiple WingHouse restaurants

    Arizona REIT buys multiple WingHouse restaurants

    Arizona-based STORE Capital is buying up multiple locations of The WingHouse Bar & Grill throughout Florida, and may in fact have bought the entire chain. The REIT paid $1.9 million on Jan. 27 to buy Ker's Winghouse restaurant at 3401 W. Vine St. in Kissimmee. The same day, STORE paid $2 million...

  • Orlando homebuilder preps site for new warehouse for friend's boat business

    Orlando homebuilder preps site for new warehouse for friend's boat business

    A local veteran homebuilder is planning to clear some of his property in South Orlando to build a new warehouse for a friend's boat repair business.  Jeffrey Stuart, owner of single-family homebuilder All Star Construction, Inc., filed a final site plan determination on Jan. 31 with the City of...

  • Elevation Development advancing Parkview project on W192

    Elevation Development advancing Parkview project on W192

    Orlando-based Elevation Development has started clearing land for the first phase of its Parkview retail project on Kissimmee's W192 tourist corridor and may have found a buyer for the 120-room hotel pad slated for Phase 2. Elevation CEO Owais Khanani told GrowthSpotter the firm is in negotiations...

  • Insula spends $18.5M on Altamonte Springs apts, plans $2.5M more in reno

    Insula spends $18.5M on Altamonte Springs apts, plans $2.5M more in reno

    Multifamily owner/operator Insula Companies plans to spend another $2.5 million on renovations at a 168-unit apartment complex in Altamonte Springs that it bought last week for $18.55 million. Insula principal Jeff Talbot said the Sarasota-based company plans major renovations to the 29-year-old...

  • Carroll Org spends $153.5M on three local MF assets, has more capital to place

    Carroll Org spends $153.5M on three local MF assets, has more capital to place

    Atlanta-based multifamily owner/operator Carroll Organization spent more than $153.5 million on Jan. 31 for three properties totaling 972 apartments in Greater Orlando, and has more capital to invest for a new fund, a lead executive with the company told GrowthSpotter.  The properties include the...

  • CalAtlantic Group scoops up more lots in St. Cloud's Narcoossee corridor

    CalAtlantic Group scoops up more lots in St. Cloud's Narcoossee corridor

    CalAtlantic Group continues to be bullish on St. Cloud. Last week the homebuilder paid $6.3 million for the 106-lot Phase 1 of Sunset Groves, part of an 84-acre subdivision on Zuni Road in the Narcoossee community. The 288-lot development received site plan approval in 2014. Robert Godwin's EHRG...

  • Ocoee posts RFQ for $4.72M in design improvements for Lakefront Park

    Ocoee posts RFQ for $4.72M in design improvements for Lakefront Park

    The City of Ocoee is seeking landscape architecture or engineering design firms to help design major improvements to its Lakefront Park, which is planned to be the main attraction for redevelopment of its urban downtown. Based on the western shore of Starke Lake, the Lakefront Park improvement...

  • Diamond Resorts exec pays $3.5M for home at Lake Nona Golf & Country Club

    Diamond Resorts exec pays $3.5M for home at Lake Nona Golf & Country Club

    A new lead executive with Diamond Resorts International moving to Orlando paid $3.5 million last week for a lakefront estate within walking distance of Lake Nona Golf & Country Club. Located in the 10000 block of Tavistock Road, the 1.5-acre property features a 9,599-square-foot home just east...

  • DCT Industrial buys land for expansion of Conway Road warehouse park

    DCT Industrial buys land for expansion of Conway Road warehouse park

    An affiliate of Denver-based DCT Industrial Trust paid $2.038 million on Wednesday for roughly 11.5 acres northeast of its Airport Distribution Center North warehouse park on Conway Road, paving the way for new access and a seventh building, a lead executive with the company told GrowthSpotter. ...

  • Developer buys vacant land next to Loop West, plans retail & QSR pads

    Developer buys vacant land next to Loop West, plans retail & QSR pads

    Retail developer NGI Investments is part of an investment group that paid $2.1 million on Jan. 31 for the vacant corner parcel on Osceola Parkway at Dyer Boulevard, next to the Loop West shopping center. NGI President Harry Kay bought a 20 percent interest in the project through affliate company...

  • DLC Residential buys W192 land near Margaritaville slated for 326 apartments

    DLC Residential buys W192 land near Margaritaville slated for 326 apartments

    South Florida-based luxury apartment developer DLC Residential is rebooting a 326-unit apartment complex on Kissimmee's W192 tourist corridor. DLC affiliate Bella Terra Citrus Ridge LLC paid $6.2 million on Jan. 31 for the 23.4-acre parcel west of the S.R. 429 interchange, and directly south of Orange...

  • Panattoni Development proposes 94k SF warehouse on Shader Road

    Panattoni Development proposes 94k SF warehouse on Shader Road

    California-based Panattoni Development Company is preparing for its second Build-to-Suit industrial warehouse development on Shader Road in the past three years.  Working through Maitland-based civil engineers IBI Group, the company filed a request for determination on Jan. 24 to build a 93,600-square-foot...

  • Metro Development eyes FL markets outside Orlando due to land prices

    Metro Development eyes FL markets outside Orlando due to land prices

    Metro Development Group, which is readying four large residential communities for development along Florida’s west coast, is taking a pass on the Greater Orlando market, at least for now. Metro president Greg Singleton told GrowthSpotter on Thursday the company can’t make its business model work...

  • Kissimmee physician planning medical complex on S.R. 535 tourism corridor

    Kissimmee physician planning medical complex on S.R. 535 tourism corridor

    Kissimmee allergist Imtiaz Ahmed wants to renew a permit for a planned medical office complex in the tourism corridor that stalled during the recession. Ahmed met this week with Osceola County planning staff to discuss how to resume work on the project, located at the intersection of S.R. 535 (Vineland...

  • Former cruise travel agency exec sells Winter Park mansion for $11M

    Former cruise travel agency exec sells Winter Park mansion for $11M

    The widow of a former founder of North America's largest cruise agency sold their Winter Park lakefront estate on Jan. 30 for $11 million, a price that included about $300,000 in personal property from the mansion. The home, located in the 600 block of N. Interlachen Avenue, faces Lake Osceola...

  • Largo-based investor pays $21M for 3rd hotel in tourism corridor, seeks more

    Largo-based investor pays $21M for 3rd hotel in tourism corridor, seeks more

    An affiliate of Largo-based Equity Management Partners (EMP) paid a recorded $21 million on Tuesday for the 308-key Courtyard Orlando Lake Buena Vista at Vista Centre, with up to $3 million planned for renovations over the next two years, the company's founder told GrowthSpotter.  Located at 8501...

  • Highwoods seeks to pave the way for next office bldg at MetroCenter in MetroWest

    Highwoods seeks to pave the way for next office bldg at MetroCenter in MetroWest

    Raleigh-based Highwoods Properties wants to build out a parking lot to support the next office building at its MetroCenter development in MetroWest.  Highwoods filed a determination request with the City of Orlando in mid-January for approval to build a remaining 218 parking spaces to support the...

  • Invitation to GrowthSpotter subscribers: March 9 breakfast

    Invitation to GrowthSpotter subscribers: March 9 breakfast

    GrowthSpotter subscribers, We will be holding our first breakfast of the year on Thursday, March 9, for informal conversation and feedback about GrowthSpotter. Our past breakfasts have yielded great insight that help us improve our coverage of early-stage property acquisition and real estate development...

  • Altamonte Springs seeks architecture, engineering services for new building

    Altamonte Springs seeks architecture, engineering services for new building

    Altamonte Springs is seeking bids over the next month for architecture and engineering services for construction of a new operations/mechanical maintenance building, at the city's regional water reclamation facility on Keller Road. The city issued a Request for Proposals (RFP) on Wednesday for...

  • Park Square Homes founders planning assisted living, daycare in Kissimmee

    Park Square Homes founders planning assisted living, daycare in Kissimmee

    Park Square Homes principals Suresh Gupta and his son, Vishaal Gupta, are reshaping their plan for a 11-acre site in the Brighton Lakes neighborhood off Pleasant Hill Road in Kissimmee. A family-owned affiliate company bought the site in 2012 in a tax certificate sale for $81,000. When the county...

  • New I-Drive District zoning code nears final approval, land owners get grace period

    New I-Drive District zoning code nears final approval, land owners get grace period

    The new development code for a 3,500-acre study area around International Drive could take effect next Tuesday, after more than two years of public meetings. But owners of a vast majority of the land will have a grace period of three years or more to follow the old rules, based on concessions made...

  • Central Parc to develop retail outparcels at Lake Mary's Savannah Park

    Central Parc to develop retail outparcels at Lake Mary's Savannah Park

    Looking to cash in on the recent growth spurt along International Parkway near Lake Mary, Winter Park-based Central Parc Development plans to spend $3.8 million developing three outparcels at the Exchange at Savannah Park. Central Parc, under affiliate Savannah Park Retail LLC, purchased four remaining...

  • Tavistock eyes Q2 start on building with micro-apts near Lake Nona Town Center

    Tavistock eyes Q2 start on building with micro-apts near Lake Nona Town Center

    Tavistock Development Company is updating plans for an 11-story mixed use building in Lake Nona that will feature its first offering of urban micro-apartments, increasing the unit count with a potential groundbreaking by the second quarter.  First reported here in early October, the project is...

  • Investors buy Jetport Industrial land near OIA as option for bakery expansion

    Investors buy Jetport Industrial land near OIA as option for bakery expansion

    A group of investors with ties to the baking industry paid $3.72 million on Friday for land on the southern edge of Jetport Industrial Park, west of Orlando International Airport, with plans to potentially develop in the future for a local bakery business.  Located on the northwest corner of Landstar...

  • South Florida investors pay $20M for Kissimmee apartment complex

    South Florida investors pay $20M for Kissimmee apartment complex

    Miami flower importer Herbert Jordan is part of an investment group that paid $20 million on Jan. 24 for a 208-unit apartment complex just north of the Kissimmee Gateway Airport. The Park at Sorrento complex, built in 1972, features a mix of garden-style and townhouse apartments on 15.6 acres....

  • President of Avalon Park Group buys estate property with horse barn

    President of Avalon Park Group buys estate property with horse barn

    The president and CEO of local developer Avalon Park Group paid $750,000 on Friday for a nearly 10-acre estate in northern Orange County, where he plans to house horses to enjoy on the weekend with family. Located in the 10000 block of McCulloch Road, the 9.7-acre property includes a 38-year-old...

  • Developer seeks land use change to build grocer-anchored retail near Heathrow

    Developer seeks land use change to build grocer-anchored retail near Heathrow

    Publix's status as king of the Florida grocery market is being challenged yet again with a proposed development in Seminole County. Representatives with Orlando-based Elevation Development will meet with Seminole County planners Wednesday to discuss a proposal to build a retail center at the southwest...

  • Kissimmee broker introducing new 'smart' homes near research park

    Kissimmee broker introducing new 'smart' homes near research park

    Kissimmee real estate broker Aamir Khan is introducing a new "smart home" concept on Neptune Road, at the halfway point between the city's new SunRail station and Osceola County's high tech research park, NeoCity. Khan bought four contiguous lots on Neptune Road and Lakeview Avenue in 2015 for...

  • Wallacks partner with wrestler Hulk Hogan to open I-Drive store before Wrestlemania

    Wallacks partner with wrestler Hulk Hogan to open I-Drive store before Wrestlemania

    Legendary pro wrestler Hulk Hogan is working with developer Wallack Holdings to reopen a closed storefront on International Drive as a shop and museum celebrating the athlete's career, with plans to debut roughly a month before Wrestlemania 33 hits Orlando on April 2. The store will be a second...

  • Tavistock seeks approvals for two new Lake Nona public parks totaling 370 acres

    Tavistock seeks approvals for two new Lake Nona public parks totaling 370 acres

    Two new large public parks are in the design phase for growing areas of Lake Nona, with 370 acres dedicated by Tavistock Development Company, and a projected completion by mid-2018.  New designs and phasing for separate public parks near the Laureate Park and NorthLake Park communities were submitted...

  • Local developer Liberty Investment pushes growth in self-storage & hotels

    Local developer Liberty Investment pushes growth in self-storage & hotels

    Orlando-based Liberty Investment Properties recently broke ground on its newest Central Florida self-storage facility near the Mall at Millenia, and may shift its focus for up to $40 million in new development in the coming years to more hospitality, the company's president told GrowthSpotter. ...

  • Bridge Multifamily pays $49.5M for apartments in MetroWest

    Bridge Multifamily pays $49.5M for apartments in MetroWest

    Affiliates of Salt Lake City-based Bridge Investment Group paid $49.5 million on Tuesday for the 456-unit Indigo West apartments in MetroWest, and could invest up to $200 million in Central Florida acquisitions this year, a lead executive with the company told GrowthSpotter.  Located at 6101 Raleigh...

  • Mattamy Homes launches new vacation home project and next phase of Tapestry

    Mattamy Homes launches new vacation home project and next phase of Tapestry

    Mattamy Homes USA is gearing up for the next phase of Tapestry, a 1,031-home gated community in Kissimmee. The Canada-based homebuilder this week filed mass grading plans for the four remaining phases of the 243-acre project. Mattamy also filed construction plans for Phases 3 and 4, which should...

  • MDH Partners buys six Orlando warehouse bldgs, seller to reinvest locally

    MDH Partners buys six Orlando warehouse bldgs, seller to reinvest locally

    Atlanta-based industrial real estate investor MDH Partners closed last week on a warehouse portfolio buy spanning three regions of Florida, which included more than $71.3 million spent on nearly 1.14 million square feet of conditioned area in Orlando. The portfolio encompassed 27 buildings in Jacksonville,...

  • Florida Hospital Waterman banks 2nd piece of land in past two months

    Florida Hospital Waterman banks 2nd piece of land in past two months

    Florida Hospital Waterman spent $900,000 on Jan. 18 to buy its second piece of land on U.S. 441 in the past two months for future development. The purchase included two parcels totaling 3.7 acres in Leesburg on Sleepy Hollow Road with frontage on U.S. 441, across from where S.R. 44 comes into the...

  • Pulte to launch new residential developments near Longwood, Lake Mary

    Pulte to launch new residential developments near Longwood, Lake Mary

    Pulte Homes will continue to expand its presence in strategic pockets of Seminole County this year with groundbreakings coming on two residential developments. Lake Emma Sound, a 78-home development at the southwest corner of Anderson Lane and Rinehart Road, received Planned Unit Development approval...

  • Cost for Osceola Parkway Extension toll road expected to top $1B

    Cost for Osceola Parkway Extension toll road expected to top $1B

    The estimated cost for building the 12-mile Osceola Parkway Extension toll road tops out at more than $1 billion, according to final calculations presented during a public hearing Tuesday at Osceola Heritage Park. The formal hearing is the final step of the Project Development & Environmental (PD&E)...

  • Tavistock plans retail center, potential hotel at Greeneway Park south of OIA

    Tavistock plans retail center, potential hotel at Greeneway Park south of OIA

    An affiliate of Tavistock Development Company filed plans on Tuesday to develop a grocer-anchored shopping center with a potential hotel directly south of Orlando International Airport, and between hundreds of acres pegged for future residential.  Located at the northwest corner of Lake Nona Boulevard...

  • Developer plans 10-story mixed-use tower along Downtown Orlando's Lake Ivanhoe

    Developer plans 10-story mixed-use tower along Downtown Orlando's Lake Ivanhoe

    Winter Park-based Alliance Residential Company has property fronting Lake Ivanhoe in Downtown Orlando lined up for purchase, with plans to redevelop as a 10-story mixed-use project that will bring more residents and office space to burgeoning Ivanhoe Village, a lead executive with the company told...

  • Osceola County selling land at key interchange in tourism corridor

    Osceola County selling land at key interchange in tourism corridor

    Osceola County is looking to sell a 5.9-acre parcel at a key interchange in the Kissimmee tourism corridor. County Commissioners voted recently to declare the property surplus and put it on the market. The parcel is located right off the Osceola Parkway exit ramp at the S.R. 535 (Vineland Road)...

  • Longwood posts RFP for real estate consultants

    Longwood posts RFP for real estate consultants

    The City of Longwood is seeking a real estate consulting firm to guide it in accomplishing twin goals this year of enhancing the city’s historic district, and uniting municipal services at a new City Hall. Longwood issued a Request for Proposals (RFP) on Monday for interested commercial real estate...

  • Western Way shopping center in Downtown Orlando sells for $4.55M

    Western Way shopping center in Downtown Orlando sells for $4.55M

    Western Way, a 1950s-era shopping center on W. Colonial Drive in Downtown Orlando, fetched a $4.55 million sale price last week, due in large part to one very desirable tenant. "People really love the location, and they're familiar with it because they know the (Orange County) Tax Collector is...

  • Miami developer seeks GC & lender for dual-hotel project on South I-Drive

    Miami developer seeks GC & lender for dual-hotel project on South I-Drive

    Miami-based Riviera Point Development Group plans to break ground in the fourth quarter on one of two neighboring hotels on S. International Drive, and will seek a general contractor and lender in the coming months, a lead executive with the company told GrowthSpotter.  The developer filed a two-phase...

  • Seminole Commissioners to consider Land Use change for 42-acre project near Oviedo

    Seminole Commissioners to consider Land Use change for 42-acre project near Oviedo

    An Orlando developer plans to build a mixed-use project on 42 acres near Oviedo, but needs approval from Seminole County for future land use changes, in part because the property sits in an area county leaders had hoped would become a high-tech corridor.JEL Land Development LLC wants to develop...

  • Peacock Automotive to buy Maitland's Don Reid Ford, pursue expansion

    Peacock Automotive to buy Maitland's Don Reid Ford, pursue expansion

    Peacock Automotive has south Maitland's Don Reid Ford dealership and its related 10 acres under contract with an expected closing in the next two weeks, and is considering redevelopment of the property with more modern showrooms and service buildings. (**UPDATE** Affiliates of Peacock Automotive...

  • FHC Development expanding residential project south of St. Cloud

    FHC Development expanding residential project south of St. Cloud

    FHC Development will more than double the size of its proposed Deer Run Estates subdivision south of St. Cloud this year when the developer closes on a 34-acre parcel fronting Hickory Tree Road, CEO Frank Cawthon told GrowthSpotter. The parcel is directly across from a planned 545-home Buena Lago...

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