News

  • Ohio developer plans addition to retail strip center in MetroWest

    Ohio developer plans addition to retail strip center in MetroWest

    Mohd Beseiso said his fully leased Orlando strip mall has done so well he figures an addition there will also prosper. The Toledo, Ohio resident owns the Metro Pointe shopping center at 5920 Metropolis Way in MetroWest, anchored by a Planet Fitness gym and an Own It Now rent-to-own store. Beseiso...

  • GrowthSpotter subscribers treated to VIP tasting event at Formosa Winery

    GrowthSpotter subscribers treated to VIP tasting event at Formosa Winery

    Island Grove Wine Company at Formosa Gardens welcomed GrowthSpotter subscribers to an exclusive VIP wine tasting and networking event Tuesday night. Winery owner George Chen has just completed the $7 million winery and event space, and the official grand opening is Sept. 27. The 12,900-square-foot...

  • Lennar to add new section to Storey Lake on Westgate parcel

    Lennar to add new section to Storey Lake on Westgate parcel

    Lennar won approval Wednesday from Osceola County for a 95-acre expansion of its booming Storey Lake Resort in Kissimmee. Storey Lake, located at the intersection of Osceola Parkway and Vineland Road (S.R. 535), is approved for approximately 2,000 homes. The community offers condos, townhomes,...

  • Design evolves & MPB approval follows for Banner's 13-story plan on E. Livingston

    Design evolves & MPB approval follows for Banner's 13-story plan on E. Livingston

    It took a few rounds of design and some thick skin during public feedback sessions, but Illinois-based multifamily developer Banner Real Estate Group earned a recommended approval on Tuesday from Orlando's Municipal Planning Board for the rezoning and road abandonment needed to precede a 13-story...

  • Dunkin Donuts-anchored Kissimmee retail strip on W192 sells for $2.45M

    Dunkin Donuts-anchored Kissimmee retail strip on W192 sells for $2.45M

    Port Orange-based real estate investor and hotelier B.P. Sodhi has sold a 17,000-square-foot retail strip on Kissimmee's W192 tourism corridor for $2.45M. Sodhi, president of Eagles Hospitality, owns several hotels and retail centers in the Orlando and Daytona Beach markets. He bought the Dunkin'...

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  • Magic Development buys another 364 acres on W192 to expand luxury resort plans

    Magic Development buys another 364 acres on W192 to expand luxury resort plans

    Magic Development has just closed a deal that elevates the Orlando-based firm to the forefront of companies that are reshaping Kissimmee's W192 tourism corridor. Company executives have been hinting for months that they were working on something big. On Friday, they made good on that promise, paying...

  • Mushroom farm & packing company in Zellwood explores 45k SF plant expansion

    Mushroom farm & packing company in Zellwood explores 45k SF plant expansion

    California-based Monterey Mushrooms is considering an expansion of its Orlando-area production facility, drawn to invest by the area's population growth and demand for its third-party logistics service, a lead executive with the company told GrowthSpotter.  The farmer and packer of fresh mushrooms...

  • Brazilian TV show host pays $700k for lakefront lot in Emerson Pointe

    Brazilian TV show host pays $700k for lakefront lot in Emerson Pointe

    A veteran Brazilian television show host and his wife paid $700,000 recently for an undeveloped lakefront lot in Emerson Pointe, next to a multi-million dollar home they already own. Located on Emerson Pointe Way in the guard-gated community of Emerson Pointe, the roughly half-acre lot and home...

  • AD1 pays $13M for second hotel in Kissimmee tourism corridor

    AD1 pays $13M for second hotel in Kissimmee tourism corridor

    Hollywood-based hotel owner-operator AD1 Global paid a recorded $12.9 million on Thursday for the 224-key Quality Suites Royale Parc Suites in Kissimmee, and will consider a flag change before making immediate PIP investments, a lead executive with the company told GrowthSpotter.  "We already have...

  • Pasco cattle ranchers pay $18.5M for 7,050-acre 4H Ranch in Osceola County

    Pasco cattle ranchers pay $18.5M for 7,050-acre 4H Ranch in Osceola County

    One of the Tampa Bay area's last standing cattle ranching families paid $18.5 million last week for the 7,050-acre 4H Ranch in south Osceola County. Bexley Ranch Land Trust sold nearly 7,000 acres of its land holdings along the Suncoast Parkway in Pasco County to California-based Newland Communities...

  • NAIOP Central Florida chapter seeks new executive director

    NAIOP Central Florida chapter seeks new executive director

    NAIOP Central Florida will look to hire a new executive director beginning later this month, an opportunity to lead the growing local chapter of this trade association that has opened up twice in recent months.  Shannon Monteleone served as the local NAIOP chapter's executive director for nine...

  • Unicorp preps custom design & build team for 13 multi-million dollar lots in Bay Hill

    Unicorp preps custom design & build team for 13 multi-million dollar lots in Bay Hill

    Unicorp National Developments is venturing further into the luxury single-family home market with plans for 13 multi-million dollar lakefront lots in Bay Hill, and has yet to settle on a handful of custom builder and architecture partners for the project.  Located off Hubbard Place and Lady Bet...

  • Ocoee seeks transportation planning & consulting service contractors

    Ocoee seeks transportation planning & consulting service contractors

    The city of Ocoee is seeking one or more engineering and planning firms on continuing service contracts for transportation plan consulting, according to a Request for Qualifications (RFQ) issued Friday.  The city intends to award contracts to one or more firms, which will provide the transportation...

  • Developer Terry Stiles dies at age 70 after battle with cancer

    Developer Terry Stiles dies at age 70 after battle with cancer

    Terry Stiles, one of the most prominent developers in South Florida with family firm Stiles Corporation, has died after a battle with esophageal cancer. He was 70. Stiles had fought the disease for three years and experienced complications last week, his son, Ken, said in a note to the roughly...

  • Austin developer scales back apts project for Orlando market entry on Universal

    Austin developer scales back apts project for Orlando market entry on Universal

    Austin-based multifamily developer Aspen Heights Partners is nearing its Orlando market entry via 19.88 acres on Universal Boulevard, revising down its footprint and unit count to earn provisional Development Plan approval last week.  Located north of the Las Palmeras by Hilton Grand Vacations timeshare...

  • Webb's Realty plans more office, retail near historic Haines City candy store

    Webb's Realty plans more office, retail near historic Haines City candy store

    Webb's Realty is seeking to rezone a portion of its nearly 40-acre block on U.S. 27 in Haines City to position it for future development. The Webb family has owned the historic Webb's Candy Shop since the 1940s. R.J. Webb said his grandfather moved the business from downtown Davenport to its current...

  • Local developer plans new luxury home subdivision near Tuscawilla & Oviedo

    Local developer plans new luxury home subdivision near Tuscawilla & Oviedo

    Planning is underway for the Estates at Wellington, a new luxury home subdivision in Seminole County just east of the Central Florida Greenway, at the corner of Mikler Road and Token Trail. Residential developer Jim Mehta said work should begin early next year on the 24-lot development on 36.8...

  • Veteran CRE developer & philanthropist pay $3.65M for Winter Park home

    Veteran CRE developer & philanthropist pay $3.65M for Winter Park home

    A veteran real estate developer and his wife, known for their local philanthropy, paid more than $3.65 million on Wednesday for a luxury home redevelopment opportunity on the Winter Park Chain of Lakes.  Located in the 900 block of Palmer Avenue, the property's 1.8 upland acres feature 231 feet...

  • East Orlando meat business to double in size with new commercial kitchen

    East Orlando meat business to double in size with new commercial kitchen

    East Orlando's Circle R Beef hopes to break ground next month on a new 15,000-square-foot production facility that will allow the business to grow and expand its product line, the owner told GrowthSpotter. "We're doubling the size of everything," Mark Rutkosky said on Thursday. Total investment...

  • Lakefront wedding & event venue near Disney World considers expansion

    Lakefront wedding & event venue near Disney World considers expansion

    The local owner-operators of a watersports rental business and destination wedding venue near Walt Disney World are exploring options to more than double their footprint on the shore of Lake Bryan. Located on Lake Bryan Drive, east of the 13000 block of S.R. 535 and adjacent to Marriott Vacation...

  • Aldi plans for new store in Lake Wales across from Eagle Ridge Mall

    Aldi plans for new store in Lake Wales across from Eagle Ridge Mall

    Fast-growing German discount grocer Aldi Food Market is planning a new store in Lake Wales at the southwest corner of U.S. 27 and Thompson Nursery Road. Aldi is seeking to modify the existing drainage permit with the Southwest Florida Water Management District for the corner parcel in the city's...

  • Seritage files plans for two new dining outparcels at Fashion Square

    Seritage files plans for two new dining outparcels at Fashion Square

    New York-based REIT Seritage Growth Properties has lined up Darden Restaurants' Longhorn Steakhouse and a new prototype-design Olive Garden for the first two new outparcels on its property at Orlando's Fashion Square Mall, and has a third in lease negotiations with Mission BBQ.  Dubbed "The Shoppes...

  • Medical doctors couple pays $2.5M to veteran developer for Lake Butler lot

    Medical doctors couple pays $2.5M to veteran developer for Lake Butler lot

    A pair of local doctors paid $2.5 million last week for nearly four acres of undeveloped property on the Butler Chain of Lakes in Windermere, buying from a veteran real estate developer who had held it for a prospective dream home.  Located in the 12000 block of Lake Butler Boulevard, the 3.91-acre...

  • Upshot Capital closes on N. Ivanhoe site near Doubletree, considers use options

    Upshot Capital closes on N. Ivanhoe site near Doubletree, considers use options

    Orlando-based real estate investment group Upshot Capital Advisors paid $3.5 million on Thursday through one of its investments funds for 1.56 acres next to the Doubletree by Hilton Orlando Downtown, and is considering use options between the burgeoning North Quarter and Ivanhoe Village neighborhoods,...

  • Developer plans urban apts complex near Downtown Orlando on church property

    Developer plans urban apts complex near Downtown Orlando on church property

    Atlanta-based developer Tramell Crow Residential (TCR) has 5.93 acres under contract near Downtown Orlando on the Calvary Assembly of God property, with plans for a 310-unit apartment complex and investments to rebuild and expand adjacent streets.  It's the first of two portions of excess parking...

  • Lake County seeks architect & CMAR for new animal control building

    Lake County seeks architect & CMAR for new animal control building

    Lake County is seeking an architecture firm and Construction Manager at-Risk (CMAR) for its new animal control and shelter building being planned, according to separate requests for proposals (RFP) and qualifications (RFQ) issued this week.  The single-story building would be used by the county's...

  • Illinois builder buys land on Westside Blvd corridor for vacation home resort

    Illinois builder buys land on Westside Blvd corridor for vacation home resort

    An Illinois-based homebuilder closed this week on the purchase of 60 acres on the Westside Boulevard corridor, directly across from a future expansion of Lennar's ChampionsGate Country Club. Eli Steinhardt, owner of Steinhardt Builders, told GrowthSpotter earlier this summer that Orlando has been...

  • Palm Beach investors pay $17M for NNN-leased retail site in Winter Park via 1031

    Palm Beach investors pay $17M for NNN-leased retail site in Winter Park via 1031

    A Palm Beach-based couple paid more than $16.95 million this week for the NNN-leased and newly-opened Orchard Supply Hardware store property in Winter Park, with more acquisitions in September to fulfill a 1031 exchange opportunity.  Located at 1111 S. Orlando Ave., northwest of the intersection...

  • Local travel agency owner pays $3.9M for 91-unit apt complex in NW Orlando

    Local travel agency owner pays $3.9M for 91-unit apt complex in NW Orlando

    A local small business owner and budding real estate investor paid $3.9 million on Tuesday for the 91-unit Pine View Apartments in northwest Orlando. Located at 4731 N. Pine Hills Road, the 4.38-acre property features 10 one-story buildings with one- and two-bedroom units at market rate, with construction...

  • Office tower owner in Downtown Orlando plans 28k SF of ground-floor retail

    Office tower owner in Downtown Orlando plans 28k SF of ground-floor retail

    Miami-based real estate investment firm Steelbridge Capital is investing more than $2 million to reposition the ground floor of its 16-story office tower in Downtown Orlando for more than 28,000 square feet of new retail and dining space.  Located at 20 N. Orange Ave. on the northwest corner with...

  • Disney to control retail land at Flamingo Crossings, eyes Phase 1 start in 2018

    Disney to control retail land at Flamingo Crossings, eyes Phase 1 start in 2018

    The Walt Disney Company expects to maintain ownership of and develop roughly 237,000 square feet of retail space planned for the center of its Flamingo Crossings district west of S.R. 429, a lead executive with the company told GrowthSpotter. Unlike Disney Springs where "experiential" and higher-end...

  • Pennington & Assoc. to build new HQ, retail/office development near Oviedo

    Pennington & Assoc. to build new HQ, retail/office development near Oviedo

    Winter Park-based construction firm Pennington & Associates plans to build its new headquarters along with retail-office space in Seminole County near Oviedo. The company’s new development arm, Pennington Development Group, will build the project on land currently owned by the Clayton family on...

  • Veigle Properties pursues rezoning of land near Poinciana SunRail station

    Veigle Properties pursues rezoning of land near Poinciana SunRail station

    Winter Park real estate investors Jim and Charles Veigle are seeking to rezone a 120-acre parcel across from Poinciana High School for up to 720 residential units. The brothers have owned the land since 1994 and previously used it as a borrow pit, which left the site with 50 acres of lakes, Jim...

  • Chassity Vega, Greater Orlando Builders Association

    Chassity Vega, Greater Orlando Builders Association

    Nine percent. According to the National Association of Women in Construction, that’s the percentage of women working in the industry. It’s a statistic that gives weight to Chassity Vega’s theory that in a way, growing up “as one of the boys” prepared her for work in a male-dominated field. “I have...

  • Brazilians buy remaining land at stalled Orlando condo project, plan final two bldgs

    Brazilians buy remaining land at stalled Orlando condo project, plan final two bldgs

    A group of Brazilian real estate developers paid $1.2 million last week for their first venture in Orlando, buying the remaining land of the Fairview Grande condominium project with plans to build second and third mid-rise towers that were abandoned during the recession.  Located at 4177 N. Orange...

  • Developer readies land buy on South I-Drive for two hotels, seeks lender & GC

    Developer readies land buy on South I-Drive for two hotels, seeks lender & GC

    Port Orange-based hotel investor B.P. Sodhi should close next week on some of the last few undeveloped acres around Phoenicia Development's Orchid Bay Plaza shopping center. He filed for construction permits Wednesday to build two limited service hotels, and has yet to choose a lender, general...

  • Medical office demand in Clermont sparks plans to build out Citrus Tower Park

    Medical office demand in Clermont sparks plans to build out Citrus Tower Park

    Riding on the success of Citrus Tower Park’s medical office space, a Clermont-based development group is planning to convert the last seven acres of the Lost Lake Reserve Tract at John’s Lake Road and Citrus Tower Boulevard into 56,000 more square feet of office. “We should have executed contracts...

  • 8,300-plus acres rich in limestone marketed in growth path of The Villages

    8,300-plus acres rich in limestone marketed in growth path of The Villages

    It’s a mind-boggling land sale: 8,354 acres of raw land listed at more than $49 million, close to four major Florida highways and less than an hour’s drive from Orlando. The nearly 13-square-mile property is a wide-open canvas for future mixed-use development, according to Clinton G. Wallace, principal...

  • Developer to pay city $5.5M for Creative Village lot, plans market rate apts

    Developer to pay city $5.5M for Creative Village lot, plans market rate apts

    Ustler Development  and a joint venture partner will pay the city of Orlando more than $5.475 million for a 1.6-acre parcel in Creative Village to develop market rate apartments with ground-floor retail, which will be the fourth or fifth building to rise in the downtown college campus after it...

  • AV Homes prepping for new subdivision at entrance to Poinciana Parkway

    AV Homes prepping for new subdivision at entrance to Poinciana Parkway

    AV Homes has filed preliminary plans to build a 406-lot subdivision at the Marigold Avenue entrance to Poinciana Parkway. Anthony Iorio, vice president of development for AV Homes, met last week with Osceola County's Development Review Committee to discuss some staff concerns over the proposed...

  • Tavistock & GOAA agree on sale price for first half of Poitras Property

    Tavistock & GOAA agree on sale price for first half of Poitras Property

    Tavistock Development Company has agreed to pay more than $63.745 million to the city of Orlando and Greater Orlando Aviation Authority (GOAA) for the first 1,162 acres of "Poitras Property" south of Orlando International Airport. Orlando's City Council approved the deal with Tavistock back in...

  • Seminole State College seeks design-build contractor for new wellness center

    Seminole State College seeks design-build contractor for new wellness center

    Seminole State College of Florida is seeking a design-build contractor for a renewed effort to build a new Wellness Center on its Sanford/Lake Mary campus, according to a Request for Qualifications (RFQ) issued Tuesday. Applicants must be pre-qualified contractors with the college. The Wellness...

  • Lennar's Storey Lake Resort targeted for dining & retail project

    Lennar's Storey Lake Resort targeted for dining & retail project

    Trycon Associates has an LOI on the 9-acre commercial tract at the entrance to Lennar Homes' fast-growing Storey Lake resort community, and wants to add a pair of restaurants and 22,800 square feet of commercial space. But first, the Deland-based developer needs to clear up a few issues with signage...

  • Infrastructure planned for 58 acres in Oakland to support Pulte, future apts

    Infrastructure planned for 58 acres in Oakland to support Pulte, future apts

    Local developer Dwight Saathoff's firm Project Finance and Development LLC is preparing plans for future senior living and multifamily phases on 58 acres in the west Orange County town of Oakland, 41 acres of which will first be developed by Pulte Group. Oakland commissioners approved a revised...

  • Andy's Frozen Custard preps Sanford site for 2nd Orlando-area store, seeks more

    Andy's Frozen Custard preps Sanford site for 2nd Orlando-area store, seeks more

    A franchisee of Missouri-based Andy's Frozen Custard has a Sanford mall outparcel under contract for its second Greater Orlando location, and hopes to break ground there and on N. International Drive by year's end, the company's construction manager told GrowthSpotter.  Located at the corner of...

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