December 6, 2022
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

Florida Business News

Florida News Releases

Florida Trend Video Pick

In the parking lot of an abandoned grocery store, a food drive meets needs
In the parking lot of an abandoned grocery store, a food drive meets needs

Over the course of the morning, volunteers will hand out boxes full of produce and pantry items. More than 300 people will walk — or drive — away with cartons of eggs and gallons of milk, bread and pastries and cereal. They’ll leave with bags of bananas, and apples and meats that they’ll feed to their families.

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Is it your opinion that the coronavirus pandemic has ended in the United States?

  • Yes
  • No
  • Unsure
  • Need more information
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2022 Trend Magazines Inc. All rights reserved.