Statewide closed sales of existing single-family homes totaled 23,510 last month, an increase of 11.5% from September 2018, according to Florida Realtors. Florida's condo-townhouse market totaled 9,007, up 6.1% compared to a year ago.

There is definitely pent-up demand for new product as occupancy in the submarket has been above 78% since 2014 and for each of the last six years, room demand increased 2% and ADR increased 6%-plus.

The developer buys a two-story building in Orange County with plans to convert it into medical office space, GlobeSt.com reports EXCLUSIVELY.