Orlando Greenlights $500M Entertainment District
Construction of the $500 million, 900,000-square-foot mixed-use project, to be called Westcourt, is set to break ground in late 2024.
Construction of the $500 million, 900,000-square-foot mixed-use project, to be called Westcourt, is set to break ground in late 2024.
“SRS continues to grow our team in Florida as well as around the country to help meet the demand we’re seeing from retailers who are looking to expand,” said John Artope, SRS Executive Vice President and Florida Market Leader.
Gabriel Britti, Issenberg, and Ricardo Esteves of Marcus & Millichap’s Issenberg Britti Group had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a local LLC.
The initial phase of construction is expected to commence in the fourth quarter of 2024 with completion and occupancy anticipated in 2025.
Basis President/COO Anthony Scavo and Head of Acquisitions Ahmad Elayyan represented the company in the off-market transaction.
Located at 444 Hermit Smith Rd. on a 79-acre industrial site in the Apopka submarket of Orlando, the project will be developed by developer Trammell Crow Company and include three buildings. The first phase of Apopka Business Center is expected to be completed in 1Q 2025.
The property is 98% occupied.
Patrick Nutt and William Wamble of SRS represented the seller in the transaction.
A three-story building with ground-floor retail will front Plant Street, with the top two floors holding ten apartments.
Pineda Commons will rise on 17.8 acres at 5185 and 5195 N. Wickham Road, just south of the Pineda Causeway.
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