ORLANDO-The 45-year-old, former Gibbs-Louis Inc. women’s fashion store building Downtown is getting a new life as a trophy showroom for the British-made Mini Cooper.

Locally based Fields Motorcar Corp. is leasing 7,000 high-profile space on the ground floor of the vacant, 45-year-old, former Gibbs-Louis Inc. women’s fashion store building at 131 N. Orange Ave. The dealership will be the first in the central business district since Reed Nissan Motors departed in 1991. Downtown Mini Inc., a Fields subsidiary, plans to occupy the space in March.

Officials at Fields and Orlando Terrace Inc., the building’s owner, could not be reached at GlobeSt.com’s publication deadline to learn lease details. But area brokers familiar with the Downtown retail submarket tell GlobeSt.com the estimated rent is $30 per sf for at least 10 years. That would put it among the highest rent ranges in the central business district.

“That’s a conservative estimate,” a broker not associated with the deal tells GlobeSt.com. “Where in Orlando could a car dealer get better prime customer exposure than on Orange Avenue Downtown where an estimated 30,000 office workers, tourists and residents travel every day?”

On a 10-year lease, the aggregate rent value would be about $2.1 million or $210,000 per year, brokers say.

Orlando Terrace Inc. purchased the building in March from the Gibbs-Louis families for $1.15 million or about $53.57 per sf. The structure is being renovated at an estimated construction cost of $250,000 and will also house a beauty salon, restaurant and spa.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.