77-Acre Development Site Near Disney World Listed For Sale

Oct 16, 2018 No Comments by

Avison Young has been exclusively retained to sell the 77-acre infill development opportunity at 6375 W. Irlo Bronson Memorial Highway in Kissimmee.

The site, which currently holds the non-operating, 46-building former Orlando Sun Resort and Convention Center, is ideally located adjacent to Disney’s Celebration Development with unrivaled views of Walt Disney World and represents a unique opportunity for an investor or developer to acquire and control one of the few available sites with scale left along Orlando’s tourist corridor.

Avison Young Senior Vice President Jay A. Ziv, Principal Michael T. Fay, Senior Vice President Theresa Johnson, Principal John K. Crotty, CCIM, and Principal David Duckworth will oversee the marketing and disposition of the property on behalf of the seller, the Moinian Group. The property will be sold “as is” and Avison Young is targeting developers of high-density, mixed-use rental residential, timeshare/fractional ownership residential, hotel units, event space, retail, and restaurant amenities.

 

“The former Orlando Sun Resort site is poised to become the area’s next landmark destination with immediate proximity to seven of the world’s largest tourist attractions,” said Ziv. “Located in one of the strongest and most diversified economies in the U.S., an investor will enjoy a rare combination of excellent downside protection with significant upside potential as a result of Orlando’s highly resilient market fundamentals.”

According to recent market research, demand for quality properties largely outpaces the availability of strong investment opportunities in Metro Orlando’s high demand areas. The most visited city in the U.S., Orlando hosted 72 million tourists in 2017. During peak season, the city sees more than 380,000 visitors per day, contributing over $50 billion annually to the local economy.

 

“Amidst the unprecedented expansion of Orlando’s tourism industry, top-tier job growth, and position as a true international destination, the former Orlando Sun Resort site also offers significant incentives for development,” added Ziv. “The tourist corridor is home to over 50 percent of Orlando’s hospitality inventory with demand still on the rise, while retail and multifamily boast increasing occupancy rates and asking rents.”

The former Orlando Sun Resort acreage is in a high-visibility location at the northeast intersection of Interstate 4 and State Highway 192 (Irlo Bronson Memorial Highway) on the edge of Orlando, known as the “Gateway to Osceola.” Located 0.5 miles from the Celebration master-planned community and two miles from Disney World, traffic counts from both thoroughfares combined approach 190,000 vehicles per day.

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Industry News, Land, Multi-Family, NA, Retail
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