August 5, 2015
Megastron

Megastron plans to build four buildings on land it owns in southwest Orange County.

Wyndham

Wyndham Vacation Ownership signed a 12-year lease to move its headquarters down the road to 250,000 square feet that it plans to occupy in the fourth quarter. 

Commercial Real Estate

Regional Snapshots - Orlando

Mike Vogel | 9/8/2012

In 2010, Brazil’s Megastron took Mayor Buddy Dyer’s advice — offered on a trip to that country — and went ahead with the first of four office buildings on land it owns in southwest Orange. Megastron already has leased out the top three floors of the four-story, 134,000-sq.-ft. building, and Cushman & Wakefield leasing agent Betsy Owens says she has a proposal out for 100,000 square feet of a second Megastron building that will begin construction later this year. Says Owens, “The activity is much higher than anyone had ever anticipated.”

The rest of the county has been slower to recover, with vacancies falling gradually and many class A properties still in distress, says Cushman’s Anne Spencer.

Tenants also continue to have the edge in industrial and retail, though both sectors are improving. Amcor Rigid Plastics by itself shook the industrial market as it took over a 500,000-sq.-ft. Walgreens warehouse while building out its new plant. Pennsylvania-based Wawa convenience stores is entering the Orlando and Tampa markets with plans for 100 stores in five years.

Sector Vacancy Rent (per sq. ft.)
Office 19.5% $20.35
Industrial 14.2 5.00
Retail 6.9 15.20
» 1-Year Employment Change +9,800 jobs (+1.0%)

Tags: Central, Real Estate, Commercial Real Estate, Regional Snapshots

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single digital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Grumpy Cat in Tampa
Grumpy Cat in Tampa

The line outside Tampa Theatre snaked around the building and around the corner and around the next block, more than 500 strong, as fans turned out to catch a glimpse of internet sensation Grumpy Cat. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Do you support President Obama's Clean Power Plan to reduce carbon pollution? (comments welcome)

  • Yes
  • I am OK with it
  • No

See Results

Ballot Box
Subscribe