Central Florida Commercial Real Estate Brokerage & Advisory Services

Helping some of Central Florida’s most exciting & dynamic companies & organizations manage their commercial real estate needs since 2012

ABOUT US

We deliver innovative, client-centric commercial real estate solutions designed to address current and future business needs.

WHAT WE DO

We simplify the real estate decision process and provide rock-solid advice by utilizing every available resource.

HOW WE DO IT

By studying the market, anticipating trends, leveraging key relationships and utilizing the latest technology.

CENTRAL FLORIDA COMMERCIAL REAL ESTATE INSIGHTS

ORLANDO RECOGNIZED AS NO. 1 BEST
SPORTS CITY FOR ATTRACTING AND HOSTING EVENTS
IN THE COUNTRY!:

On April 3, 2024, the team at LCA was honored to unite with other Orlando stakeholders at the Kia Center to celebrate Orlando’s recognition as the No. 1 Best Sports Business City for Attracting and Hosting Events in the US by the Sports Business Journal!

As a region, we have achieved remarkable success through collaborative efforts in bringing significant sports events and competitions to Central Florida. At Lloyd Commercial Advisors, we consider this endeavor crucial to enhancing the quality of life in Florida, and we are proud to contribute on various levels within the sports and special events landscape. The friendships and professional relationships cultivated throughout these endeavors hold immense importance to all of us at LCA. This evening provided a fantastic opportunity to celebrate with our community stakeholders and friends.

The event featured a delightful cocktail reception, a panel comprising remarkable leaders and legends guiding our local sports teams and venues, and a post-event gathering in the beautiful Kia Sky Lounge, complete with a Champagne Toast overlooking Orlando’s skyline. Notably, all the area sports mascots were present, along with one of the most incredible cakes we’ve ever seen!

It was truly an exceptional evening, celebrating Orlando’s distinction as the premier city for sports business according to the Sports Business Journal. Congratulations to all involved!

TAKE A LOOK! (VIA FACEBOOK)

THE MAGIC SPORTS ENTERTAINMENT DETAILS UPDATED!

(Orlando Business Journal 4/4/24)

The Orlando Magic’s Sports + Entertainment District is in line for a key city vote this month, according to CEO Alex Martins.

Leadership for the $500 million project — set to be built on roughly 8.43 vacant acres to the north of the city of Orlando-owned Kia Center — wants it to go before Orlando City Council later this month, Martins said after an April 3 Sports Business Journal panel event at the arena. If approved, that would put the development on a path to kick off construction by the end of this year.

San Francisco-based JMA Ventures LLC and Houston-based Machete Group are working with the Magic’s SED Development LLC on what will be a 900,000-square-foot, mixed-use project. Included in the first phase of development will be:

  • A 261-guest room “lifestyle hotel” with an outdoor lounge and pool deck, 16,000 square feet of meeting space and a “chef-driven” restaurant concept
  • Above the hotel will be 273 apartments, including 119 studios, 90 one-bedroom, 59 two-bedroom and five penthouse units.
  • A 3,500-capacity music venue
  • More than 200,000 square feet of Class A office space
  • Roughly 100,000 square feet of retail space
  • A 1.5-acre “urban living room” that would serve as flexible green space for events
  • 1,140 spaces of on-site parking

The goal would be to finish the initial phase by the end of 2026. Proposed future phases bring the potential for more apartment development on the site.

Martins added that the development could help the city’s efforts to draw the NBA All-Star Game to the region. Orlando last hosted in 2012, and the earliest it could be named host again is 2028.

The project would add to the hotels and conference space the region already has, which is important with all the activities tied to the game, such as fan fests, sponsor events and more.

“It’s become a much bigger event than what it was in 2012,” Martins said during the panel event. “It was a $100 million economic impact to our community back then. This year in Indianapolis it was a $300 million economic impact, so it’s become a much bigger event than it was before.”

Including the district, the Downtown Orlando Community Redevelopment Agency/Downtown Development said that as of March, there are 20 proposed projects worth over $1.45 billion in the pipeline, including:

  • 4,258 residential units
  • 556 hotel rooms
  • 136,162 square feet of retail space
  • 321,045 square feet of office space

FLORIDA’S COMMERCIAL REAL ESTATE SECTOR’S 
INSURANCE WOES CONTINUE IN NEW YEAR

By Melea VanOstrand
ALM / Property Casualty
January 2, 2024

Florida’s property insurance landscape for commercial real estate is experiencing one of the most difficult periods in its history.

That’s according to Oscar Seikaly, CEO of NSI Insurance Group, who says there’s not enough capacity to absorb all of the business that needs to be insured.

“Insurance companies in the past, when you give them a building for $100 million to insure, they will insure it in three and a half minutes. They give you a rate and get it done,” Seikaly said. “Today, that same insurance company is saying we can only take $5 or $10 million out of the hundred million, and you have to find someone else to take the next $5 million or $10 million and then you have to find nine insurance companies to cover the rest just for one building.”

The outlook doesn’t look much better for the next six months.

“Nothing is going to change because nobody is entering the market. No insurance markets are knocking on the door saying, ‘We’re open for business in Florida.’ Nobody is doing that. Why? Because most insurance companies are at their maximum limit of insurance in Florida,” Seikaly said.

If buildings aren’t up to par quality-wise, or from a construction or age point of view, Seikaly said, it can be hard to get the $5 million in the first place, which is one of the reasons why the number of real estate transactions have gone down.

“Then they’re charging you for the $5 million almost the same as what they’d charge for the $100 million,” he said.

Some of the factors that have gotten the insurance landscape in Florida to this point are that, historically, consumers have underinsured their buildings, reinsurance costs are rising and the values of properties are changing.

“The underinsurance ace factor is the starting point, but the reinsurance is not catching up to the losses they’re incurring every year. No matter what they charge, the losses have been more than what they’re predicting, so then they have to go back and charge more,” he said.

As Seikaly sees it, insurance companies can get stuck in a cycle of raising prices, making a small profit, but having to raise them again because that profit is not enough. Insurance rates have gone up about 30%-40% a year for the past three years.

“They’re playing catch up,” he said.

What’s the solution?

Insurance reforms, which are more for homeowners, are a step in the right direction, but it’s not close to solving the crisis.

“It resolves the fraud part of the crisis … the defrauding of insurance companies and the defrauding of citizens. It cuts down on the fraudulent claims by people and lawyers that represent them,” Seikaly said.

Figuring out how to attract and open up the market to more insurance companies is the solution. However, according to Seikaly, unless there’s a way for them to make money, the problem will continue.

“We need to get our arms around global warming and the cost of that on the insurance market. We haven’t been able to predict it very well. Every year, we just increase rates,” he said. “Fires have been a surprise, flooding has been a surprise. Places that never flooded are flooding. All of these things are unpredictable, so the closer we get to predicting these events, the better we can price things and access what they should be.”

Seikaly also believes it’s important to use Citizens Insurance as the insurance company to serve Floridians rather than referring to it as the insurance company of last resort.

“It should just be permanent so that the Florida consumer, at least the homeowners, have a way of being insured at a reasonable premium,” he said. “Reinsurers are not going to insure a company like Citizens because 100% of their business is in Florida. The state would have to fund some of the deficiency in the reinsurance market for them to write more business, and for the reinsurers to allow them to write more business.”

Testimonials

I loved working with Lloyd Commercial Advisors, and specifically Scott Lloyd. Scott’s extensive knowledge of the Orlando market was instrumental in helping us find a perfect warehouse in a challenging location. His expertise and understanding of the local market was spot-on and his determination and attention to detail were impressive. He left no stone unturned in the search process and even approached owners that had not listed their property.

Skip Perkins, Avante Group, Inc.

Scott’s command of the Central Florida market and expert utilization of demographic data allowed my company to make two highly-informed site selection decisions. I could not recommend Lloyd Commercial Advisors more. Their expertise and utilization of expert demographic data made the site selection process seamless and efficient. He also negotiated excellent leases for both of our Florida locations and I am extremely grateful. 

Lauren K., Premier Med-spa