Orlando has billions of dollars' worth of real estate developments underway. Overall, we've got more than 1 million additional square feet of construction in the works for the downtown business district alone.

Among the transformative new developments: The 650-acre health and life sciences park known as Lake Nona Medical City recently opened, and will be a premier destination for medical care, research and education. The planned All Aboard Florida train connecting Orlando to Miami, slated to open in 2017 and attract 2.5 million passengers per year, is also driving development. These kinds of projects are helping the city realize its full potential.

GlobeSt.com: Which sectors are shining in this cycle?

Moss: Industrial and multifamily are doing very well. Central Florida's emergence as a logistics hub has created a red hot market for well-located, well-designed warehouse space.

Local real estate occupied by e-commerce retailers, parcel delivery firms, and transportation/logistics companies hit an all-time high in 2014. This new demand will result in a tighter market for tenants looking for class A industrial buildings.

Multifamily is reaping the benefits of Orlando's strong job and population growth. The market has already seen over $1.2 billion in sales so far this year, on pace to break the $2 billion mark by the end of the year.

Retail development is heating up as well. The Orlando tourist and convention area market is especially bursting with new retail projects like the $300 million Skyplex indoor entertainment complex.