The Indiana developer's Celebration II will mirror Celebration I, a four-story, 80,344-sf property currently 75% leased at average full-service rents of $21 per sf. The site is 25 miles south of Downtown Orlando and five miles from Disney's front door at Lake Buena Vista, FL. Tenants in Celebration I are Walt Disney Co., taking 41,083 sf and youknowbest.com, leasing 20,932 sf on an estimated five-year lease.

Builders at the 4,900-acre Celebration community are developing townhomes from $125,000 to $300,000; apartments, one bedroom/one bath, $575 to $1,125 per month; cottage houses, $150,000 to $230,000 for 1,700 sf to 2,450 sf; village houses, $200,000 to $315,000 for 2,200 sf to 3,200 sf; and estate homes, $350,000 to $750,000 for 3,400 sf to 6,000 sf.