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How This Booming Tourism Industry Is Impacting Commercial Real Estate

The summer was telling.

By Jennifer LeClaire | Updated on November 22, 2017

Office Depot, Family Dollar, Fancy Fruit & Produce, Olive Garden, and Ollie's Bargain Outlet make up the property's tenant roster. Office Depot, Family Dollar, Fancy Fruit & Produce, Olive Garden, and Ollie’s Bargain Outlet make up the property’s tenant roster.

MIAMI—Orlando remains the top tourism destination in the U.S., attracting more than 69 million tourists to the area in 2016. That’s according to a Visit Orlando report. With new additions like Walt Disney World’s Pandora: The World of Avatar, Universal Orlando’s Volcano Bay water park and more, Central Florida is gearing up with more restaurants and retail stores to keep up with booming tourism demand.

“Commercial real estate sales in Central Florida during the summer months is always an anomaly,” John Krzyminski, director of Cite Partners‘ Central Florida Retail Investment Team, tells GlobeSt.com. “During the summer, CRE sales nationwide are usually slower as many families take vacations while school is out. However, the summer is when Central Florida receives the most interest from a mix of international and domestic real estate investors. Currently, the areas with the most activity and retail growth within Central Florida are along I-Drive, West 192 and the Winter Park area.”

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