JLL: Orlando is one of the hottest post-pandemic markets
The US population increased sharply during the pandemic, but 61,000 new residents flocked to Orlando in 2020 and led investors and real estate developers to bid high in one of the top tourist cities in the United States, according to the global real estate service provider JLL.
“2020 has been the second best immigration year in the past decade for our city,” said Whitaker Leonhardt, ”senior manager of the JLL Capital Markets team in Orlando. “The long term success of our economy, combined with a very exciting outlook, has kept Orlando at the top of the list for many domestic retail investors.”
Recent sale by JLL of a land of 57,747 sq.ft. The Plaza Ecco neighborhood center just outside of downtown for $ 30.5 million is an indicator of the value placed on solid commercial property in the growing metro.
“It was what I would call a top notch mall due to the infill, high barriers to entry and its long term lease with Publix and included plots,” said JLL senior general manager. to Orlando Brad. Peterson. “It’s no surprise that it has garnered tremendous interest and awards from the investment community.”
Plaza Ecco, built between 2019 and 2021, is fully leased, with exterior blocks occupied by Starbucks, Twistee Treat, and PDQ serving as additional anchors. Other tenants include Club Pilates, Woof Gang Bakery, Pacific Dental, Jersey Mike’s Subs, Sports Clips, Mooyah Burgers, SoDo Nails.
JLL expects the dynamic influx of residents to Orlando to bring the total metro population to 3 million by 2025.