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0Cushman & Wakefield | Orlando | 2019

ORLANDOCushman & Wakefield

Global Cities Retail Guide


ORLANDOOVERVIEW

Orlando has more to offer than just rides and pyrotechnics for the more than 72 million visitors that come each year. Known as the "City Beautiful" and the happiest place on earth, Orlando is home to popular tourism destinations such as Walt Disney World, Universal Studios, and SeaWorld, as well as one of the leading cities in Florida for new job creation and population growth.The retail market in Orlando is bifurcated into two segments, tourist-related and general retail. Retail that caters to the large influx of visitors to Orlando are grouped around the major theme parks to the south of downtown along Interstate 4 in the Tourist Corridor. International Drive runs through the area and is anchored on the north end by the Mall at Millenia and in the south by Celebration and the growing north Osceola region.

Orlando is also home to the second largest university in the nation as well as many financial services and tech-related companies.

With all the positive momentum in the market, the retail sector continues to be active. Occupancies remain high throughout the market with new-to-market tenants attracted to the area's growing fundamentals.


LAKE MARY/HEATHROWTraditional family-oriented suburban submarket located north of Orlando that is extremely attractive to young working professionals. Lake Mary features two distinct shopping centers, Colonial Town Park and the Seminole Towne Center, each offering consumers a variety of choices in terms of dining, retail options, and atmosphere.

ORLANDOKEY RETAIL STREETS & AREAS

UCF/WATERFORD LAKESThe submarket caters to the bustling student population at UCF as well as the more affluent residents to the east and southeast of Orlando. The major shopping district is Waterford Lakes along the Alafaya Trail. The submarket is connected to the East/West connector (SR 408) and the loop highway around Orlando (SR 417).

MILLENIA Anchors the north end of International Drive and includes the Mall at Millenia, one of the most successful retail shopping destinations in Florida. Millenia has a growing office market, home to many high-paying professionals. New multifamily construction continues to increase the area's density and desirability for many Millennials.

INTERNATIONAL DRIVE (I-DRIVE)I-Drive parallels the I-4 and caters to tourists to the area theme parks. It has 200+ restaurants and 550+ stores. Anchored by three large shopping centers: Orlando International Premium Outlets; Pointe Orlando; and the Orlando Vineland Premium Outlets by Disney World as well as the Orange County Convention Center, the second largest convention center in the country.

WINTER PARKLocated direct north of downtown Orlando, Winter Park is an old historic small town, home to a high income demographic and two main shopping areas. Park Avenue has luxury shopping, fine dining, and is near Rollins College. Orange Avenue is one of the main shopping corridors in the metro area that has seen a recent influx retailers, including Nordstrom Rack and Whole Foods.

DISNEY SPRINGSDisney Springs is adjacent to I-4 and located within the heart of the Walt Disney World’s main property. It is a popular shopping destination for visitors wanting to experience the Disney magic without paying the admission price. The Springs is home to 100+ shops, 50+ restaurants, 10+ entertainment options and a plethora of family activities.


ORLANDOMARKET OVERVIEW

KEY AREAS / STREETS/SHOPPING CENTERS

CONSUMER PROFILE

MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR UNIT OF 2,000 SQFT

RANGE OF UNIT SIZES

Seminole Towne Center LocalsMacy's, Dillard's, JCPenney, United Artists Theatre,Dick's Sporting Goods

$15 PSF

Waterford Lakes TownCenter Locals

Ross Dress For Less, T.J. Maxx, Bed Bath & Beyond, Barnes & Noble, Best Buy, Jo-Ann Fabrics, Office Max, PetsMart, Target, Ashley Furniture HomeStore, L.A. Fitness, Regal Cinema

$30 PSF 500 SF - 30,616 SF

Park Avenue Locals

Alex and Ani, California Closets, Charyli, Cottonways, Ethan Allen, Lucky Brand Jeans, Ten Thousand Villages, The Paper Shop Inc., Sunglass Hut

$30-$45 PSF 1,343 SF – 7,124 SF

Winter Park Village Locals

Regal Cinemas, Publix, Loft, Pier 1 Imports, Guitar Center, Jos. A. Bank, J. Jill, Ulta, White House Black Market, Versona

$35.00 PSF 1,580 SF – 25,500 SF

The Mall at Millenia Tourists, Locals

Louis Vuitton, Gucci, Prada, Chanel, Cartier, Apple, Michael Kors, Kate Spade new York, Victoria's Secret, Banana Republic, Brooks Brothers, Anthropology, lululemon athletica,Pottery Barn, MAC Cosmetics, Neiman Marcus, Bloomingdale's, Macy's

$50+ PSF

Disney Springs Tourists, Locals

Alex and Ani, Columbia Sportswear, The Art of Shaving, Kiehl’s Since 1851, Kipling, Lacoste, Johnston & Murphy, Kate Spade, Lucky Brand, Mac Cosmetics, Lilly Pulitzer, Pandora Jewelry, Sanuk, Sperry, Sephora, Tommy Bahama, Ugg, Vera Bradley, Zara

TBD


ORLANDOMARKET OVERVIEW

KEY AREAS / STREETS/SHOPPING CENTERS

CONSUMER PROFILE

MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR UNIT OF 2,000 SQFT

RANGE OF UNIT SIZES

Orlando InternationalPremium Outlets Tourists, Locals

7 For All Mankind, Brahmin, Coach, DKNY, Dooney & Bourke, J. Crew, Kate Spade, Kenneth Cole, Lacoste, Neiman Marcus Last Call, Polo Ralph Lauren, Saks Fifth Avenue, Off 5th, Victoria's Secret

Diesel, Vera Bradley $50+ PSF

Orlando VinelandPremium Outlets Tourists, Locals

Burberry, Calvin Klein, Coach, Cole Haan, Diesel, Fendi, Gap Outlet, Giorgio Armani, Hugo Boss, J. Crew, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Tag Heuer, Tory Burch, Vera Bradley

Robert Graham, Vilebrequin,Original Penguin

$50+ PSF

The Florida Mall Tourists, Locals Macy's, Dillard's, JCPenney, Sears, H&M, Forever 21, American Girl, Zara $40-$45 PSF


SEMINOLE TOWNE CENTERRegional mall near Lake Mary and off of I-4 features many large retailers including Dillard's, Macy's, and Dick's Sporting Goods. Seminole Towne Center also includes over 120 specialty shops throughout the mall and 5 full-service restaurants.

ORLANDOSHOPPING CENTERS

WATERFORD LAKES TOWN CENTERMinutes from UCF, this community and lifestyle center is home to more the 100 specialty shops and dining options, as well as popular retailers including Target and Best Buy. Waterford Lakes Town Center is an open-air center on five acres of lakes, fountains, and landscaped areas.

PARK AVENUEThe historic heart of Winter Park, Park Avenue is an upscale, high-end shopping district known for beautiful scenery, fine dining, and luxury boutiques. The area attracts many wealth management and financial services firms.

THE MALL AT MILLENIAThe Mall at Millenia exposed consumers in Orlando to an international collection of luxury brands including Louis Vuitton, Gucci, Prada, Chanel, and Cartier. The mall has become known as Central Florida's preferred address for luxury goods and services, featuring more than 150 stores in an enclosed mall that spans 1.2 million square feet.

ORLANDO INTERNATIONAL/VINELAND PREMIUM OUTLETSWith two locations, the Vineland location being off of Interstate 4 and only minutes from Walt Disney World and the International location off of International Drive near Universal Orlando Resort, these collections of outlet stores provide consumers with 25% to 65% savings each day. The Orlando International and Vineland Premium Outlets offer consumers with a variety of name brand and designer outlet stores in a Mediterranean village setting.


THE FLORIDA MALLWith over 250 stores and restaurants and over 1.8 million square feet of space, The Florida Mall attracts 20 million visitors a year and is known as Central Florida's largest and most dynamic shopping center. It features many stores exclusive to Central Florida including The Disney Store, Crayola Experience and one of only five worldwide M&M's World stores.

ORLANDOSHOPPING CENTERS

DISNEY SPRINGSOpened in 2016, Disney Springs, has over 150 different shopping, dining and entertainment venues organized into four separate outdoor neighborhoods. A number of new-to-market establishments have opened their doors, including The Boathouse, an upscale waterfront restaurant; Erwin Pearl, a fashion jewelry retailer; and Havainas, a footwear retailer where guests may create their own customized flip flops.

WINTER PARK VILLAGEOffering many residential and office space options, Winter Park Village is home to many high-end retailers and restaurants in an open-air Main Street concept.


ORLANDONEW DEVELOPMENT WATCH

DEVELOPMENT TO WATCH OUT FOR

LAKE NONA TOWN CENTER

Total Size (SF) 3.8 MSF

- Retail GLA 1.2 MSF

Planned Opening Date 2020

Consumer Profile Tourists, Locals

ABOUT THE DEVELOPMENT

Lake Nona Town Center is a $780 million, 100-acre mixed use project within the 11,000 acre Lake Nona community. Upon completion, the town center will be a regional shopping and entertainment destination with ample collection of shopping opportunities including department stores, large-scale retail shops and fashion boutiques. The completed phase 1 of the project included two hotels, a Marriott Resident Inn, Courtyard by Marriott. Phase 2A of the project which broke ground in 2017, will feature a 42,000-sf brewery, 51,000-sf medical facility, 120,000-sf medical fitness facility, 150-room hotel, 418,500 sf of mixed retail and 163,000 sf of Class A office space. At full buildout, Lake Nona Town Center will include more than 80 speciality retailers, anchors, junior anchors and restaurants.


From local dining favorites to the region's many entertainment options, Orlando proves to be not only a city of high energy fun but also one of fine cuisine and culture.Residents and visitors can enjoy fine dining at one of the area's many high end resorts as well and a night of dancing at one of the many clubs downtown. Orlando diverse retail market caters to the needs of a diverse set of consumers.

ORLANDOFOOD & BEVERAGE


FOOD & BEVERAGE MARKET OVERVIEWORLANDO

KEY AREAS CONSUMER PROFILE

FOOD & BEVERAGE OPERATORS INCLUDING

RENT FOR 3,500 SQFT UNIT

Universal City Walk Tourists, Locals

The Cowfish, Vivo Italian Kitchen, Antojitos, Hard Rock Café, Jimmy Buffett'sMargaritaville, Bob Marley- A Tribute toFreedom, Bubba Gump Shrimp Co., Emeril’s, Pat O’Briens

Varied $

Colonial Townpark Locals Liam Fitzpatricks, Dexter's, Ruth's Chris SteakHouse, Amura, World of Beer Varied $

Park Avenue/Winter Park Locals

310 Park South, The Bistro, Panullo's, Paris Bistro, Orchid Thai Cuisine, Luma on Park, Boca KitchenBar, Hamilton’s Kitchen, The Ravenous Pig, 4 Rivers

Varied $

I-Drive Tourists, Locals

98 Forty Tapas & Tequila, Aashirwood IndianCuisine, Aki Sushi, Antojitos AuthenitcMexican Kitchen, B.B. Kings Blues Club, CaféTu Tu Tango, Cowfish Sushi Burger Bar, TheCupcake Lounge Orlando, Fat Fish Blue,Fogo de Chao Churrascaria,

Varied $

Disney Springs Tourist, Locals

The Boathouse, Blaze Fat-Fire’d Bongo’s, Earl of Sandwich, The Edison, Frontera Concin, House of Blues, Jock Lindsey’s, Morimoto Asia, Paddlefish, Planet Hollywood, Ragland Road, STK

Varied $

Winter Park Village LocalsBrio Tuscan Grille, Sakari Sushi, Cheesecake Factory, Lime Fresh Mexican Grill, Another Broken Egg, P.F.Chang's China Bistro

Varied $


FOOD & BEVERAGE MARKET OVERVIEWORLANDO

KEY AREAS CONSUMER PROFILE

FOOD & BEVERAGE OPERATORS INCLUDING

RENT FOR 3,500 SQFT UNIT

Waterford Lakes Locals

California Pizza Kitchen, Cooper's HawkWinery & Restaurants, Kirin Sushi, LittleGreek, Marlow's Tavern, Sweet! By GoodGolly Miss Holly, Thai Singha

Varied $

Downtown Tourists, Locals310 Lakeside, Kres, Chef Eddies, Harp and Celt Irish Pub and Restaurant, The Rusty Spoon, Tin and Taco, Gringos Locos

Varied $

No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.

© 2019 Cushman & Wakefield. All rights reserved.

ERIKA SCHANKEManaging DirectorAmericas Retail Services1290 Avenue of the AmericasNew York, NY 10104, USATel: +1 212 841 5024Mob: +1 404 680 [email protected]

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