Orlando hotel industry gaining momentum
Orlando’s sales pace for hotels remains a dim shadow from its peak in 2007 but showed some momentum this year with rising occupancy and average daily rates, according to a thirdquarter report by
During the first three quarters of this year, Metro Orlando had 18 hotel properties sell for $446 million. In 2007, more than 60 hotels sold in Orlando for $1.8 billion. Colliers cited a lack of “cross-border” capital funding purchases. Meanwhile, real-estate investment trusts have shown a slight increase in their appetite for lodging properties, Colliers reported.
While Miami-Dade has seen sagging occupancy and average daily rates in the last two years, Orlando showed growth of 8.7 percent in revenue per available room and gains in both both occupancy and average daily rates, Colliers reported. across from a YMCA family center. With 22,500 square feet of offices and medicalrelated space in four buildings, the property sold for $1.77 million. Roger Soderstrom Jr., broker for
represented Lake Marybased Dix Developments, which is developing multiple project in the region. Stirling International’s John Kurtz will lead sales and marketing for the project.
took $54 million of permanent construction debt for the 346-unit Venetian Isle apartment project in Windermere. The 10-year, fixed-rate loan carried a 3.92 percent interest rate and was arranged by a team including Vice President Zac Brumbaugh. The community has experienced “rapid leasing velocity” with an average of about two leases signed per day, according to CBRE.
Vice President Mary Frances West represented the tenant, which is managed by Mansooreh Mollaghasemi of Winter Park. NAI Broker Associate Zac Starkey represented
the and landlord of Office Park. developer Louisiana
managed by Tuan Dang of Lake Mary, leased 3,595 of square feet at Brio Business Center, 1241 W. Airport Blvd. Sanford.
Associate George Viele brokered the lease and another one with 1,800 square feet at the same center for
He also leased 3,200 square feet for
at Oviedo Commerce Center, 2462 W. State Road 426.
leased 2,426 square feet at 7667 Currency Drive in Orlando with
Bobby Isola representing the landlord. Cite Partners’ John Worrell represented the landlord in
lease of 2,167 square feet at 7007 University Blvd., Orlando.