Allen Morris Company just broke ground on a $68 million mixed-use project in Maitland, FL, an Orlando suburb.

ORLANDO— Mixed-use development is nothing new. But it's rising rapidly across Central Florida—and it often includes many of the region's most active asset classes.

Globest.com caught up with Ryan Kratz, president of Colliers International Tampa Bay, Central Florida and Southwest Florida, to get an update on what is going on and what's driving in in part two of this exclusive interview series. You can still read part one: Central Florida Seeing Notable Innovative CRE Concepts.

GlobeSt.com: From your unique perspective, what is the current state of Central Florida commercial real estate?

Kratz: The current market is healthy and vibrant. Generally, in Orlando and Tampa Bay, a landlord's market has taken ahold for office, industrial, retail, and medical asset classes.

Demand outweighs supply, generally, for investment sales and quality user buildings in these same asset classes. With modest and steady improvements to the national, statewide, and regional economies, the market continues its progression forward. Both debt and equity are available for quality investments, tempered by the discipline of reasonableness in assumptions for investment and development.

GlobeSt.com: How much is mixed-use gaining traction in the region and why?

Kratz: Mixed-use is an attractive concept given tenants' demand for residential, office, retail, entertainment, and parking made easier by combining in a singular complex. Three of the most notable future developments in the works are all mixed-use.

In Orlando, Tremont Tower will have retail, hotel, office, and parking components. In Downtown Tampa, the new, unnamed, tower on the former Trump site will include high-end residential, ground floor retail and restaurants, parking, and 200,000 square feet of office. Also in Downtown Tampa, the Jeff Vinik-controlled Strategic Property Partners will be developing much of the Channelside and Amalie Arena adjacent area into a large mixed-use project featuring office, residential—for sale and for rent—higher education, parking, entertainment, recreation, and hotel components, all with an emphasis on walkability and sense of community for the area.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

ORLANDO— Mixed-use development is nothing new. But it's rising rapidly across Central Florida—and it often includes many of the region's most active asset classes.

GlobeSt.com: From your unique perspective, what is the current state of Central Florida commercial real estate?

Kratz: The current market is healthy and vibrant. Generally, in Orlando and Tampa Bay, a landlord's market has taken ahold for office, industrial, retail, and medical asset classes.

GlobeSt.com: How much is mixed-use gaining traction in the region and why?

Instant Insights /

Why Mixed-Use Is Rising So Rapidly in Central Florida

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