Orlando


OrlandoOrlando has more to offer than just rides and pyrotechnics for the more than 60 million visitors that come each year. Known as the “City Beautiful” and the happiest place on earth, Orlando is home to popular tourism destinations such as Walt Disney World, Universal Studios, and SeaWorld, as well as one of the leading cities in Florida for new job creation and population growth.

The retail market in Orlando is bifurcated into two segments, tourist-related and general retail. Retail that caters to the large influx of visitors to Orlando are grouped around the major theme parks to the south of downtown along Interstate 4 in the Tourist Corridor. International Drive runs through the area and is anchored on the north end by the Mall of Millenia and in the south by Celebration and the growing north Osceola region.

Orlando is also home to the second largest university in the nation and many financial services and tech-related companies.

With all the positive momentum in the market, the retail sector continued to be active. Occupancies remained high throughout the market with many new-to-market tenants attracted to the area’s growing fundamentals.

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LAKE MARY/HEATHROW: 28.756864, -81.371233
UCF/WATERFORD LAKES: 28.602427, -81.200060
WINTER PARK: 28.600000, -81.339235
MILLENIA: 28.487221, -81.430645
INTERNATIONAL DRIVE: 28.429837, -81.470129
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LAKE MARY/HEATHROW


Traditional family-oriented suburban submarket located north of Orlando that is extremely attractive to young working professionals. Lake Mary features two distinct shopping centers, Colonial Town Park and the Seminole Towne Center, each offering consumers a variety of choices in terms of dining, retail options, and atmosphere.
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UCF/WATERFORD LAKES


The submarket caters to the bustling student population at UCF as well as the more affluent residents to the east and southeast of Orlando. The major shopping district is Waterford Lakes along the Alafaya Trail. The submarket straddles the main East/West connector through the region (SR 408) and the loop highway around Orlando (SR 417).
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WINTER PARK

Winter Park: Located direct north of downtown Orlando, Winter Park is an old historic small town, home to a high income demographic and two main shopping areas. Park Avenue has luxury shopping, fine dining, and is near the prestigious Rollins College. Orange Avenue in one of the main shopping corridors in Orlando that has seen a recent influx new retailers to Orlando, including Trader Joes and Shake Shack.
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MILLENIA

Anchors the north end of International Drive and with a growing retail inventory around the Mall of Millenia, one of the most successful retail shopping destinations in Central Florida. In the Millenia submarket, there is a growing office class A office market that is home to many professionals with high amounts of disposable income. New multifamily construction continues to increase the area’s density and desirability for young millenials.
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INTERNATIONAL DRIVE

International Drive parallels the I-4 and runs by 6 different theme parks, 200+ restaurants, and 550+ outlets. I-Drive has three shopping anchors: Orlando International Premium Outlets to the north; Pointe Orlando in the center; and the Orlando Vineland Premium Outlets by Walt Disney World at the south end. I-Drive is home to the Orange County Convention Center, the second largest convention center in the country.

MARKET OVERVIEW
KEY AREASCONSUMER PROFILEMAJOR RETAILERS PRESENTNEW ENTRANTSTYPICAL RENT FOR UNIT OF 2000 SQMRANGE OF UNIT SIZES
Seminole Towne CenterLocalsMacy’s, Dillard’s, JCPenney, Sears, United Artists Theatre, Dick’s Sporting Goods$15/SF300 SF - 213,441 SF
Waterford Lakes Town CenterLocalsRoss Dress For Less, T.J. Maxx, Bed Bath & Beyond, Barnes & Noble, Best Buy, Jo-Ann Fabrics, Office Max, PetsMart, Target, Ashley Furniture HomeStore, L.A. Fitness, Regal Cinema$30.00500 SF - 30,616 SF
Park Avenue LocalsAlex and Ani, California Closets, Charyli, Cottonways, Ethan Allen, Lucky Brand Jeans, Ten Thousand Villages, The Paper Shop Inc., Sunglass Hut$35.00-$40.00500 SF - 53,000 SF
Winter Park VillageLocalsRegal Cinemas, Publix, Loft, Pier 1 Imports, Guitar Center, Jos. A. Bank, J. Jill, Ulta, White House Black Market, Versona$28.50450 SF - 275,000 SF
The Mall at MilleniaTourists, LocalsLouis Vuitton, Gucci, Prada, Chanel, Cartier, Apple, Michael Kors, kate spade new York, Victoria’s Secret, Banana Republic, Brooks Brothers, Anthropology, lululemon athletica, Pottery Barn, MAC Cosmetics, Neiman Marcus, Bloomingdale’s, Macy’sLilly Pulitzer, Under Armour$50.00+450 SF - 275,000 SF
Orlando International Premium OutletsTourists, Locals7 For All Mankind, Brahmin, Coach, DKNY, Dooney & Bourke, J. Crew, Kate Spade, Kenneth Cole, Lacoste, Neiman Marcus Last Call, Polo Ralph Lauren, Saks Fifth Avenue, Off 5th, Victoria’s SecretDiesel, Vera Bradley$50.00+500 SF - 46,200 SF
Orlando Vineland Premium OutletsTourists, LocalsBurberry, Calvin Klein, Coach, Cole Haan, Diesel, Fendi, Gap Outlet, Giorgio Armani, Hugo Boss, J. Crew, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Tag Heuer, Tory Burch, Vera BradleyRobert Graham, Vilebrequin, Original Penguin$50.00+500 SF - 20,044 SF
The Florida MallTourists, LocalsMacy’s, Dillard’s, JCPenney, Sears, H&M, Forever 21, American Girl, ZaraTous, Vera Bradley, Crayola Experience$40.00-$45.00150 SF - 279,163 SF

Data as of April 2016

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Seminole Towne Center: 28.803135, -81.338567
Waterford Lakes Town Center: 28.554490, -81.200455
Park Avenue: 28.476515, -81.469467
Winter Park Village: 28.601963, -81.363128
The Mall at Millenia: 28.485547, -81.431520
Orlando International/Vineland Premium Outlets: 28.386930, -81.491967
The Florida Mall: 28.445968, -81.395489
Downtown Disney: 28.370254, -81.520985
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Seminole Towne Center

This regional mall near Lake Mary and off of I-4 features many large retailers including Dillard’s, Macy’s, and Dick’s Sporting Goods. Seminole Towne Center also includes over 120 specialty shops throughout the mall and 5 full-service restaurants.
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Waterford Lakes Town Center

Minutes from UCF, this community and lifestyle center is home to more the 100 specialty shops and dining options, as well as popular retailers including Target and Best Buy. Waterford Lakes Town Center is an open-air center on five acres of lakes, fountains, and landscaped areas.
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Park Avenue

The historic heart of Winter Park, Park Avenue is an upscale, high-end shopping district known for beautiful scenery, fine dining, and luxury boutiques. The area attracts many wealth management and financial services firms.
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Winter Park Village

Offering many residential and office space options, Winter Park Village is home to many high-end retailers and restaurants in an open-air Main Street concept.
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The Mall at Millenia

Opening in 2002, The Mall at Millenia exposed consumers in Orlando to an international collection of luxury brands including Louis Vuitton, Gucci, Prada, Chanel, and Cartier. The mall became known as Central Florida’s preferred address for luxury goods and services, featuring more than 150 stores in an enclosed mall that spans 1.2 million square feet.
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Orlando International/Vineland Premium Outlets

With two locations, the Vineland location being off of Interstate 4 and only minutes from Walt Disney World and the International location off of International Drive near Universal Orlando Resort, these collections of outlet stores provide consumers with 25% to 65% savings each day. The Orlando International and Vineland Premium Outlets offer consumers with a variety of name brand and designer outlet stores in a Mediterranean village setting.
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The Florida Mall

With over 250 stores and restaurants over 1.8 million square feet of space, The Florida Mall attract 20 million visitors a year and is known as Central Florida’s largest and most dynamic shopping center. It features many stores exclusive to Central Florida including The Disney Store, Crayola Experience and one of only five worldwide M&M’s World stores.
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Downtown Disney

Downtown Disney is being redeveloped in to Disney Springs. Once finished in 2016, Disney Springs will include over 150 different shopping, dining and entertainment venues organized into four separate outdoor neighborhoods. Nine new establishments have opened their doors, including The BOATHOUSE, an upscale waterfront restaurant; ERWIN PEARL, a fashion jewelry retailer; and HAVAINAS, a footwear retailer where guests may create their own customized flip flops.

SHOPPING CENTER TO WATCH OUT FOR
Disney Springs
Total Size (Sq.m) 100,000 Sq.m
- Retail GLA350,000 Sq.m
- Leisure/Entertainment GLA65,000 Sq.m
Planned Opening Date 2016
Consumer Profile Tourists, Locals
Description What used to be known as Downtown Disney is expanding into what will be referred to as Disney Springs, a diverse mix of retailers combined with sophisticated restaurants. So far nine venues have opened their doors, including The BOATHOUSE, an upscale waterfront restaurant; Erwin Pearl, a fashion jewelry retailer; and havainas, a footwear retailer which includes a station where guests may create their own flip flops. Over the course of this next year we will see the opening of 16 or more new venues, along with the renovations of current Downtown Disney restaurants, such as Planet Hollywood. By 2016, Disney Springs will include over 150 shopping, dining, and entertainment venues, organized into 4 distinct outdoor neighborhoods.

From local dining favorites, such as Linda’s La Cantina and the Ravenous Pig, to the region’s many entertainment options, Orlando proves to be not only a city of high energy fun but also one of fine cuisine and culture. Residents and visitors can enjoy fine dining at one of the area’s many high end resorts as well and a night of dancing at one of the many clubs downtown. Orlando diverse retail market caters to the needs of a diverse set of consumers.

MARKET OVERVIEW
KEY AREAS / STREETS/SHOPPING CENTERSCONSUMER PROFILEMAJOR RETAILERS PRESENTrent for 3,500 sqM unit
Universal City WalkTourists, LocalsHard Rock Café, Jimmy Buffett’s Margaritaville, Bob Marley- A Tribute to Freedom, Bubba Gump Shrimp Co. Restaurant & MarketVaried $
Colonial TownparkLocalsLiam Fitzpatricks, Dexter’s, Ruth’s Chris Steak House, Amura, World of BeerVaried $
Park Avenue/ Winter ParkLocals310 Park South, The Bistro on Park Avenue, Panullo’s Italian Restaurant, Paris Bistro, Park Plaza Gardens, Orchid Thai Cuisine, Luma on Park, The Wine Room, The Ravenous PigVaried $
I-DriveLocals, Tourists98Forty Tapas & Tequila, Aashirwood Indian Cuisine, Aki Sushi, Antojitos Authenitc Mexican Kitchen, B.B. Kings Blues Club, Café Tu Tu Tango, Cowfish Sushi Burger Bar, The Cupcake Lounge Orlando, Fat Fish Blue, Fogo de Chao Churrascaria, Sharks Underwater Grill at SeaWorld OrlandoVaried $
Winter Park VillageLocalsMitchell’s Fish Market, Brio Tuscan Grille, Sakari Sushi, The Cheesecake Factory, Lime Fresh Mexican Grill, Another Broken Egg, P.F. Chang’s China BistroVaried $
Waterford LakesLocalsCalifornia Pizza Kitchen, Cooper’s Hawk Winery & Restaurants, Kirin Sushi, Little Greek, Marlow’s Tavern, Sweet! By Good Golly Miss Holly, Thai SinghaVaried $
Downtown Locals, Tourists310 Lakeside, Kres Restaurant, Chef Eddies Restaurant, Harp and Celt Irish Pub and Restaurant, The Rusty Spoon, Citrus RestaurantVaried $

Data as of April 2016