Upcoming Events
Shea R. Booster has always been passionate about agriculture. Whether he was raising hogs for his local fair or involved in his FFA Chapter, Shea's passion for agriculture constantly evolved.
Shea’s involvement in FFA led him to be elected as the FFA Western Region National Vice President in 2018-2019 for the National FFA Organization. He spent over 300 days on the road, traveling more than 100,000 miles to advocate for agriculture across the country. This experience led him to the University of Florida where he graduated in '22 with a degree in Agricultural Education and Communications and minors in both Leadership and International Studies.
With his passion for agriculture and leadership, Shea started his career as an agricultural real estate advisor with SVN Saunders Ralston Dantzler in May of '22. In his first year as an Associate Advisor with SVN Saunders Ralston Dantzler, he has helped broker over $11,000,000 dollars in assets ranging from land, livestock, and equipment. Shea is dedicated to connecting farmers and ranchers to land that they can run and operate for generations to come.
In addition to his role as an agricultural real estate advisor, Shea is also the owner and operator of People First Leadership Solutions, a leadership development consulting company. With clients located across the country, Shea helps organizations and individuals become better leaders by developing and implementing leadership development programs that are tailored to their specific needs. His unique blend of agricultural and leadership expertise allows him to make a positive impact in the lives of his clients and the agricultural industry.
Shea is a brand new Realtor and can be reached at shea.booster@svn.com.
Get the latest industry news and information delivered right to your email inbox!
Just click HERE to subscribe!
Franklin Street has arranged the sale of a newly built, 23,241-square-foot Class A medical office building in the Orlando suburb of Winter Garden for $11.2 million, or $481.90 per square foot.
Franklin Street Director Matthew Weinberger, who specializes in healthcare real estate, brokered the transaction on behalf of both the seller, Verax WG, LLC, and the buyer, Charlotte-based Flagship Healthcare Properties, a fully integrated outpatient healthcare real estate firm.
Completed in 2022, the multi-tenant property is 100% occupied and fully stabilized. It is anchored by AdventHealth Well 65+, a primary care practice that has five locations across Central Florida, with co-tenants including AdventHealth Sports Med and Rehab, Winter Garden OB/GYN, Orlando Neurosurgery and The Ear, Nose, Throat and Plastic Surgery Associates.
Located at 12323 W. Colonial Dr., the property is part of the Winter Garden’s flourishing medical and commercial corridor with nearby hospital systems such as AdventHealth Winter Garden and Orlando Health – Health Central.
“This first-class medical property is extremely well positioned within Winter Garden’s robust healthcare sector, while boasting a strong tenant roster that serves as a great benefit to the surrounding community,” said Weinberger. “We are pleased to have helped Flagship add another worthy medical office asset to its portfolio in the Central Florida market.”
Grover Corlew, a Florida-based real estate investment group and owner of the revitalized Orlando Central office park, has signed more than 155,000 square feet of new office space, tenant renewals and expansions over the past year.
In 2019, Grover Corlew reintroduced the one-and two-story mid-century office property following two years of extensive interior and exterior upgrades. The transformed complex of 21 scenic and suburban office buildings today offers discerning tenants appealing new workspaces with custom buildouts, stylish finishes, and floor-to-ceiling glass windows with plenty of natural lighting.
“Orlando Central consistently remains a popular choice for businesses, despite the fluctuations in the office market we’ve witnessed over the past several years,” said Partner Anuj Grover. “We’re near full occupancy, with a continued steady interest from new tenants who are attracted to the property’s elevated Class-A enhancements and prime location near Baldwin Park and Winter Park.”
With an emphasis on creating a workstyle to match the surrounding neighborhoods and upscale lifestyle, the property emphasizes workspaces that feature modern technology and sustainability, along with intuitive design features. Orlando Central works closely with individual tenants to personalize each space, adding custom upgrades such as open office plans, full-service breakrooms, nursing rooms, stand-alone coffee bars, payroll door access, LED lighting and more.
“We’re thrilled to welcome so many new and notable tenants to Orlando Central and grateful for our longstanding relationships with tenants who have decided to renew or expand here,” said Partner Mark Corlew. “Orlando Central has location, ease, sophistication and value all working in its favor and that’s a winning scenario for most businesses looking to relocate in today’s market.”
Among the notable 20 new tenants at Orlando Central Office Park are:
Renewals and expansions at Orlando Central accounted for more than 107,944 sq. ft. of leased space, led by the U.S. General Services Administration Department of Immigration with the renewal of 32,330 sq. ft. of office space and followed by Cuhaci Peterson™, a tenant since 2014 and a nationally recognized commercial architecture and engineering firm, with the renewal of 23, 869 sq. ft. of office space. Other notable transactions included the expansion of the Florida Department of Health offices to total 56,029 sq. ft. and the headquarters expansion of Franchise Brokers Associates to 6,046 sq. ft.
Named Outstanding Building of the Year by BOMA Orlando in 2019, Orlando Central is situated 3.5 miles east of Orlando’s central business district. The office park is immediately adjacent to the west of Baldwin Park, one of Orlando’s few “live, work, play” communities set within a dense, walkable community with the perfect mix of amenities, parks and recreation. Located just five minutes north is the City of Winter Park, one of Central Florida’s most affluent suburbs well-known for its historic roots and high-end retail.
Asking rents start at $26.00 per square foot. Todd Davis and Robert Kellogg with Cushman and Wakefield handle leasing for the office park.
An extremely well-known and popular hamburger chain from San Diego announced Wednesday that it will be making its way down to the Sunshine State.
Jack in the Box is coming to Florida! The California-based fast-food chain will also be heading to Alaska as well.
Fourteen new Jack in the Box locations are expected to open across Central Florida, making it a good excuse for a quick road trip.
“Through my travels to the West Coast, I fell in love with the Jack in the Box brand. After returning home, I read that Jack in the Box was looking to expand in the Florida market, and I knew that was our sign. Jack in the Box checked all of the boxes of what we were looking for in a franchise opportunity,” said Jonathan Peralta, Orlando franchisee.
Tim Linderman, Chief Development Officer, stated, “We’re excited to see the brand’s continued expansion into new cities and states across the country, as both of these groups bring tremendous experience to the Jack in the Box franchise system and are the perfect franchisees to open these new markets. He added, “these signings come on the heels of another recent 37-store development agreement with new franchisees, which speaks to the tremendous value of the Jack in the Box system to new franchise operators who want to bring a proven concept into their markets.”
Jack in the Box is one of the nation’s largest hamburger chains, with more than 2,100 restaurants across 21 states, according to a release.
Source: ABC-7
A six-month moratorium on submitting preliminary plats for new subdivisions was rejected by the Lake County Planning and Zoning Board on March 1 in favor of recommending that the county staff finish updating the residential zoning regulations.
According to Sarah Lux, the county's public information officer, an ordinance imposing the moratorium will be brought to the Lake County Board of Commissioners on March 28. Board members recommended rejection in a 3-2 vote. In January, the Lake BOCC approved guidelines for new rural conservation zones. This month, staff passed an ordinance covering residential zoning and new home plans, which is anticipated to be heard by the board in February. The rule was, however, challenged by the county's PandZ board in January because it was too ambiguous in some places and unenforceable in others.
This was slated to return to PandZ in February but was delayed. According to the paper, staff now estimates that rewriting the ordinance will take six months. The county would have time to "perform a complete study of its residential zoning rules," which would include requirements for buffers, parks and open spaces, and architectural standards, according to the statement.
The moratorium was opposed by three members of the Planning & Zoning board. And other people from the construction sector spoke against it.
“To me, it sends the wrong message to anybody moving into this area,” said Board Chair Gary Santoro. “It says we are closing shop.”
He suggested outsourcing some of the work if the county staff is overburdened and unable to work on the new subdivision guidelines.
Bruce Peterman, a board member, sought to recommend against the moratorium, claiming that he has dealt with them before and has never been a fan.
Tina Lee of Ashton Woods, one of the developers urging the board to recommend against the moratorium, claimed that delaying the approval of new subdivision plans delays development and places a burden on developers.
“The cost of new homes to accommodate a lot of these design criteria adds $599 a month to the mortgage, or over $3,000 a month.”
The largest homebuilder in the country, D.R. Horton, employs Peter Chichetto as its land manager. He expressed sympathy for the county's objectives.
“I understand the need for some guidelines… but it is not a moratorium that gets you there. Just adding a front porch to a house is $10,000. It takes the affordability factor out for a lot of buyers.
Builders and board members agree that some of the staff's recommendations would turn Lake County into a cookie-cutter neighborhood by requiring rear-loading garages that take up space that could be used for pools, dictating architectural choices that should be left to the developer, and including extras that drive up the price of homes, like the front porches Chichetto mentioned.
As of March 1, the county will not accept preliminary plats for new subdivisions unless they are situated within a rural conservation subdivision or if they are a part of a planned unit development that has already established design principles, assuming the moratorium is approved by the county commission. Many of the county's major projects would be exempt from this rule.
“A preliminary plat is the first official submission of a Subdivision plan to the County, which consists of an application, a draft copy of any restrictive covenants, and the Subdivision design drawings,” a county spokesperson told GrowthSpotter. “The application moratorium is being considered to ensure new subdivisions are in line with updated design guidelines.”
The county office made it clear that in order to submit a preliminary plat, a builder or developer must also sign a separate development agreement with the county outlining the requirements for the new subdivision's design.
The Lake-Sumter Home Builders Association's executive director Lisa Rayborn stated that neither her board nor the discussions surrounding the new subdivision guidelines had taken a position on the moratorium.
The architectural criteria for new home development have recently been revised by many local governments, including Lake County. Homebuilders and developers have developed strong feelings about the subject, especially since the sector wasn't engaged before the modifications were proposed.
After the City Council's approval of a set of temporary design requirements for all new house building, representatives of the Greater Orlando Builders Association have started meeting with representatives in St. Cloud. Many Orlando-based builders and developers with ongoing projects in Lake County are also represented by GOBA.
“These guidelines for design standards are kind of a new hurdle that we need to overcome if we’re going to address affordability,” GOBA CEO Chassity Vega said. “A lot of what we’re seeing is adding $80,000 to the cost of a house.”
Moratoria often cause more harm than good and convey a negative message to business, according to GOBA government affairs liaison Lee Steinhaugher. He insisted, "What's the reason to cease development? There's no reason to impose an embargo until your standards are fixed.
Greg Clark with Loma Land Co. said the moratorium will create short-term pain for the development community.
“But if they get a good set of rules and standards that everyone can follow, it’s better for everyone in the long run,” he said.
Source: Growth Spotter
LandQwest Commercial announced the formation of its first Presidential role for the Florida-based brokerage firm.
A respected leader in the industry, Daniel Butts joins the team with over 20 years in commercial investment, brokerage, and property management.
As President, Daniel oversees the company's commercial real estate division and leads its overall growth strategy. This includes recruiting specialists in leasing, sales, investment sales, and tenant representation across Central, West Central, and Southwest Florida.
“It was important to us to find the ‘right fit’ – especially in a top-tier market – to take the next generation of LQ to new levels and share in our vision of future success,” said LandQwest Commercial Founding Principal John Mounce.
Daniel is a seasoned veteran in the Orlando commercial real estate scene, who successfully lead commercial real estate organizations including Crossman & Company as Director of Leasing. Before that, he was Senior Vice President of Foundry Commercial, Senior Vice President and Chief Operating Officer of Battaglia Group Management, and Director of Investments at CNL Financial Group.
“We are thrilled to have Daniel on board,” said Founding Principal Rokki Rogan. “His teambuilding and business development success, coupled with transaction and financial oversight experience, are exactly the capable hands leadership envisioned.”
Specializing in large landholdings and complex investments, Daniels’ tenure includes over $50,000,000 of commercial transactions, overseeing a 25,000,000-square-foot leasing and property management portfolio, and recruiting / retaining over 50 associates.
"I am excited to join LandQwest and lead the Statewide commercial division," said Butts. "I look forward to working with the talented team here and build increasing value for its clients, employees, and shareholders."
Daniel will be based out of the LandQwest Orlando office.
“Daniel is a well-recognized and respected commercial real estate professional in the Florida market”, said LandQwest Orlando Founding Principal Julia Sosa. “Daniel’s knowledge and leadership skills will benefit the entire LandQwest team.”
Daniel is a member of the International Council of Shopping Centers (ICSC) and the Urban Land Institute (ULI - the oldest and largest network of real estate and land experts). He also participates in NAIOP (the leading office and industrial association), the Central and Florida Gulf Coast Association of Realtors, local Chambers of Commerce and other key networking organizations in Orlando and Tampa Bay.
CoStar has been on the hunt for a residential real estate listing site for some time. The commercial data giant bought HomeSnap in 2020 for $250 million and made a bid to buy CoreLogic in 2021. That bid was eventually rejected as CoreLogic opted instead to sell to a private equity group.
Earlier this year news broke that CoStar was in talks to buy Move Inc. from its parent company NewsCorp. Move has a number of residential real estate technology companies under its umbrella including Realtor.com and Avail. The sale was initiated by NewsCorp whose slumping profits have forced it to look for ways to streamline its operations and divest in non-core assets.
This is likely only a temporary setback for CoStar. CEO Andy Florence has been very vocal about his intentions to expand into the residential market and compete with the likes of Zillow. CoStar already has a huge part of the commercial data market under its control as its platform is the go-to for many commercial brokers and owners. Its other company, Loopnet, has also remained one of the main commercial sale and leasing listing platforms. So, rather than trying to fight for an even larger stake in the commercial sector it sees an easier path for growth in residential. Stay tuned for what will likely be another bid from CoStar to acquire its way into residential brokers’ tech stack.
Source: PropModo
Brightline has set a target for when its Orlando station will begin passenger service, according to its monthly revenue and ridership report. The Miami-based higher-speed rail service said in its January report that it wants to start service for the Orlando-to-West Palm Beach route in the second quarter of 2023. The 170-mile expansion connecting Orlando to the service's South Florida stations is 90% complete, the report says.
In addition to beginning passenger service, Brightline also plans to finish its 37,350-square-foot Orlando station at Orlando International Airport's Intermodal Terminal Facility in March, Orlando Business Journal reports. The new station will span three stories and feature luxury amenities as it connects passengers to the current rail line. The construction of the new station and the start of passenger service are on separate timelines, Brightline says. The rail service company is also working on its Sunshine Corridor, a station shared with SunRail that will allow connections to the Orange County Convention Center, Walt Disney World Resort and Orlando International Airport. The corridor will help Brightline make moves toward its expansion to Tampa.
Source: Orlando Weekly
Alabama-based developer Home Communities Company will be bringing Floridian Town Center, a new mixed-use town center, to 3355 W. Orange Blossom Trail in Apopka.
Home Communities Company is the managing partner of an investment group, including Corporate Realty and HC + Resources, that purchased the site in 2022.
Plans for the 65-acre site include 600 multifamily units, a 180-unit senior living complex, a 120-room hotel and ample space for retailers, restaurants, healthcare services and offices. Phase 1 of construction on multifamily units is expected to begin in Q3 2023 with first phase of units delivering to market by early 2025.
“The Floridian Town Center project complements the growth already taking place in Apopka,” said Home Communities Principal Jimmy Holloway. “We are creating a new space in the City of Apopka and metro Orlando area where businesses can thrive and residents can live, work and play.”
Corporate Realty President and CEO Robert Simon added, “Our team has a wealth of experience and adding a skilled retail partner like CBRE was a vital next step for this development. CBRE’s operation in Orlando knows the market better than anyone, and their expertise is a great asset not only for us, but also for businesses looking to locate in this area.”
“I’m excited to see this development and grateful to Home Communities Company for bringing new life to this site,” said Apopka Mayor Bryan Nelson. “One of my biggest priorities as mayor has been to revitalize our community and provide our citizens with more quality housing, curated dining, retail and entertainment options. The Floridian Town Center delivers on all that and more.”
Cabot Jaffee and James Mitchell with CBRE in Orlando will lead retail leasing efforts. Spaces ranging from 3,000 square feet up to 100,000 square feet will be available for occupancy beginning in Q4 2024.
“Floridian Town Center will be a premier retail destination for Apopka and the surrounding metro area. The development site is surrounded by a dense residential population with excellent connectivity to major thoroughfares with nearby access to the interchange of Highway 441 and State Road 429,” said CBRE First Vice President Cabot L. Jaffee III.
CBRE announced that industry veteran Michael Cummings has joined CBRE Valuation & Advisory Services as a Senior Vice President to focus on the hotels sector on the East Coast and throughout the U.S.
A team of hotels valuations and consulting professionals joins Mr. Cummings at CBRE, including Dick Keegan and Chris Keegan who will serve as Vice Presidents in Orlando. The team has deep experience in hotel development, operations, finance, valuations, impact studies, market studies, operator searches and transaction due diligence.
CFCAR Platinum Sponsors
CFCAR Gold Sponsors
CFCAR Silver Sponsors
WHO WE ARE
About Us
Code of Ethics
Committees
WHAT WE DO
Property Listings
Education
Advocacy
MEMBERSHIP
Join CFCAR
Member Benefits
Member Directory
