ORLANDO-The Woonsocket, RI-based retailer's planned 11,950-sf store and adjoining 5,000-sf office building didn't meet city code requiring a minimum 25,000-sf structure in the traffic-intense Vietnamtown District.
ORLANDO-The 76-year-old, privately-held, family-run company is paying $3.3 million for a 137-acre tract at International Corporate Park in south Orlando. The price equates to $24,087 per acre or 55 cents per sf. The firm plans to build a 300,000-sf complex to replace its 125,000-sf plant.
ORLANDO-Cap rates are creeping upward and pension funds are over-allocating office product, but a panel of investment experts are undecided if the slowdown is short-term or permanent. They spoke at the annual convention of the National Association of Office and Industrial Properties here.
ORLANDO-The Internet offers the commercial real estate industry important tools for research, marketing and project management, Richard Buday, president of Archimage Inc., told delegates attending the annual three-day National Association of Industrial and Office Properties conference.
ORLANDO-The planned 250,000-sf shopping center will be built on the 32-acre Green Acres RV Park near the 80-acre tract the developer is buying from the city of Altamonte Springs for a one million-sf office park. The estimated hard construction cost of the retail project is $25 million.
ORLANDO-Locally-based Arvida Realty Commercial Services, St. Joe's community development arm, is developing the 499-acre coastal community on the silver sand beaches off the Gulf of Mexico in south Walton County, 275 miles northwest of Downtown Orlando. The estimated hard construction cost is $20 million.
ORLANDO-The highlight of the three-day event, beginning today at the 750-room Hyatt Regency Grand Cypress Resort here, will be entrepreneur H. Wayne Huizenga's presentation of the Developer of the Year award to Terry W. Stiles, chairman of Fort Lauderdale, FL-based Stiles Corp. The conference is attracting about 1,000 NAIOP members.
ORLANDO-The motor home company is acquiring Emerald Coast RV Center Inc. in Gulf Breeze, FL for an undisclosed sum. The acquistion gives the local firm 18 dealerships comprising about 360,000 sf of retail space in eight states. The firm operates under the Recreation USA brand.
ORLANDO-Tourists continue to fill space, however, at Walt Disney World area inns and lodges in the retail-intense International Drive corridor in south Orlando. Nightly rates in central Orlando are up 17.2%, to an average $62.34 from $53.19 in August 1999. Metro Orlando has 100,000 hotel rooms.
ORLANDO-Neither grocer is discussing the size of the transaction, but Winn-Dixie says it could have built nine comparable stores for less than the acquistion price. Construction industry sources estimate the hard cost at about $45 million or $5.55 million per store.
