Officials at Nashville, TN-based Dixie Stampede LLC say the Sept. 11, 2001 terrorist attacks delayed the opening of the Tennessee singer's planned $25 million, 128,000-sf, 1,200-seat attraction at 7950 Vineland Ave. in south Orlando, 10 minutes from the four million-sf Orange County Convention Center.
Parton's 15-year-old firm bought the site's 14 acres from an undisclosed seller for $3.4 million or $242,857 per acre ($5.58 per sf). Brokers dealing in land acquisitions in that tourist corridor told GlobeSt.com last September the closing price could be $7.32 million or $522,720 per acre ($12 per sf).
"That gives you an idea on land prices in that submarket since 9-11," a broker from a national commercial real estate house tells GlobeSt.com on condition of anonymity.
The dinner theater is being built at a development hard cost of $195 per sf. Six dinner theaters have opened and closed here in the past five years due to low attendance.
Other Dixie Stampede properties are in Pigeon Forge, TN; Branson, MO; and Myrtle Beach, SC.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.