They are Heathrow-Markham Woods, Winter Park and the Bay Hill-Windermere area where Stirling International Realty's newest $250,000 facility will be located. The project is being completed in Building 6 at the under-construction 270,000-sf Plaza Venezia at the southwest corner of Sand Lake Road and Dr. Phillips Boulevard. The offices will open in March.
Stirling International Realty has closed on a 10-year, 3,400-sf lease aggregately valued at an estimated $1 million for the premises being developed by Boyd Development Corp.
Soderstrom opened his third showcase last year in the Winter Park Village, eight miles north of Downtown. His newest venture, however, could potentially grow his company faster than it ever has in its 10-year existence.
"Southwest Orlando has grown significantly in the past three years as a luxury home market," Soderstrom tells GlobeSt.com. "We field frequent requests from clients in our Heathrow and Winter Park offices for luxury home opportunities in the southwest region."
Strong demographics in the exclusive Bay Hill area, where national golf tournaments are held, show the average household income in a three-mile radius is $88,000. Soderstrom is also banking on Plaza Venzia's strategic location--two miles from Universal Orlando, the four-million-sf Orange County Convention Center and tourist-heavy International Drive boasting 20,000 hotel rooms.
The first-phase construction of 130,000 sf at Plaza Venezia was completed in October. The second 90,000-sf phase is scheduled to be finished in the spring. The final phase will break ground in April. The estimated hard construction cost of the 34-acre center is $40 million.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
