ORLANDO-The affiliate of CNL Financial Group plans to buy a total 19 hotel properties this year valued at $321 million, or an average $16.89 million per asset. The escalating pace will push the value of CNL's portfolio to about $600 million this year, up from $254 million in 1999.
ORLANDO-Darden Restaurants Inc. (NYSE:DRI) has closed on a $5 million contract to purchase the assets of King Henry's Feast, a shuttered, 14,000 sf, 500-seat dinner attraction in Orlando's tourist corridor near Walt Disney World. The acquisition plans were reported exclusively by GlobeSt.com on Aug. 8.
ORLANDO-Construction of the five-story, $18 million spec office project starts Oct. 1 at CenterPointe on the Park, a 55-acre, mixed-use development in Altamonte Springs, an Orlando suburb. But the $45 million, 11-story hotel/health complex seeks a joint venture development partner and a hotel operator to join the Emerson team before turning dirt.
LEESBURG, FL-The Oregon-based manufacturer of recreational vehicles and luxury motor homes wins nod from city's planning and zoning commission to build 22,000-sf facility for a staff of 20. But the city council still has to vote on the site in Leesburg Industrial Park, 45 miles northwest of Downtown Orlando.
LEESBURG, FL-A 19-year-old computer business owner and his mother are transforming a two-story, 10,000-sf former department store into a mini Main Street mall 45 miles northwest of Downtown Orlando.
ORLANDO-The price for the 1,143 rooms equates to $87,489 per room. The properties are in Georgia, Kansas, New Jersey, Massachusetts, Maine, North Carolina, Utah and Virginia.
ORLANDO-The real estate subsidiary of North Carolina-based Duke Energy Corp. wins Altamonte Springs, FL city approval on $6 million land purchase along Maitland Boulevard, the southwest gateway to the Orlando suburb.
ORLANDO-The facility at 6101 Chancellor Drive will handle requests for more than 725 Starwood Hotels & Resorts in 80 countries. The 5,000-sf property's estimated construction cost is $500,000. The center will have a staff of 50.
ORLANDO-The Birmingham, AL-REIT figures it will take about 10 years to complete Colonial TownPark, its 1.1 million-sf office, retail, hotel and multifamily venture just north of Downtown Orlando.
WINTER PARK, FL-The $18.85 million, 78,704-sf, 98% leased SunTrust Plaza office/retail complex on fashionable Park Avenue in Winter Park has been named the best of its size in the United States by the Precast/Prestressed Concrete Institute.
