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

SUNSHINE STATE DOMINATES THE TOP 10
US MARKETS FOR INDUSTRIAL RENT GROWTH

By Lisa McNatt

Florida has done it again. If writing about rent growth in the Sunshine State could be set to music, it would be a case of the same song, second verse. An examination of all markets in the country with a total industrial inventory of at least 100 million square feet shows that Orlando was the top market in the nation for the third consecutive quarter.

Furthermore, four of the top 10 U.S. markets are in Florida.

Additionally, eight of the top 10 markets are still in the Sun Belt. That’s quite a feat given that an increasing percentage of industrial demand has been shifting to markets in the North and Mid-West, but it is a testament to the impact of population growth into warmer climates since the beginning of the pandemic.

Nowhere has that growth been more apparent than in Florida and Texas, which are the leaders for in-migration, and yet none of the Texas markets made the list for the first quarter of 2024.

Even with demand down sharply in Tampa in the last year by more than 70%, it still ranked as the second leading market in the U.S. for the pace of annual rent growth. That’s not surprising, however, considering that vacancy remains under 5%, nearly half of the vacancy rate in Phoenix, which is ranked third.

The vacancy rate in Orlando is higher at 5.7%, however, there was twice as much demand in the past 12 months as there was in Tampa. In both markets, vacancy is very tight in buildings under 25,000 square feet, which is where an outsized share of tenant demand is taking place.

The Jacksonville market rounds out the final Florida market in the top five. Its accelerated pace of demand is tied to its deep-water port and its proximity to a major industrial hub in Atlanta. It is also the only Florida market in the ranking that has seen an increase in demand in the last year, with absorption, or the change in the number of occupied squared feet, up nearly 25% in that time. The only market in the list with a lower vacancy rate was Fort Lauderdale, which trails the pace of rent growth in Jacksonville by less than 150 basis points.

It is also worth noting that these 10 markets represent nearly 40% of all U.S. industrial demand in the last year. But perhaps most notable of all is that of all the top markets for the pace of annual rent growth as of the first quarter of 2024, only the four Florida markets are also in the top 10 for projected rent growth over the next four years.

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.