Meanwhile, DeBartolo Development is expanding its Florida presence with a new office in Orlando, its third corporate location in addition to its Tampa headquarters and West Coast operations in Phoenix, Ariz. Jay Adams, DeBartolo’s East Coast development officer, will lead the new office.

“As we increase our presence in the Central Florida market, we felt it was important to establish roots in the community and continue to add to the area’s economic recovery,” says Edward Kobel, DeBartolo Development’s president and COO. “With Jay already living in the market, an Orlando office was a natural third location for us.”

On June 2, DeBartolo Development acquired Summerport Village, a 196-acre mixed-use development site near in Windermere, and plans to develop class A multifamily units, an assisted living facility, and 130,000 square feet of retail there. In April, DeBartolo purchased Mills Park, a 14.5-acre site of a city-approved mixed-use development in downtown Orlando and plans to develop the property to include retail, multifamily and office on the land. The firm also broke ground in April on Andros Isles Apartments, a $39 million, 360-unit luxury apartment community only 30 minutes from Orlando in Daytona.

“As a resident in this community, I know firsthand how dynamic the region is,” Adams says. “Our local economy is very diverse and despite the current economic conditions we see tremendous opportunities in the area for growth.”