The growing number of people who visit Orlando to get entertainment is driving the high real estate prices. For instance, CenterPointe on the Park is offering a unique commercial real estate opportunity, as it is centrally situated in metropolitan Orlando. It is being developed on 55 acres of land and is going to have an ‘A’ class facility featuring one of the most advanced office spaces in the area, a hotel, conference facilities, restaurants, retail space, and other attractions. It is also to have Lakeside Park and is positioned as one of the most advanced commercial areas in the city.
The land developers are also preparing plans to develop other areas into commercial real estate, as several people are showing a keen interest in business opportunities. The increase in the number of tourists is forcing entrepreneurs looking for good investments to renew focus on Orlando. Though the existing hotels are improving décor and room service, new hotels are also planned to tap the new tourist arrivals.
By looking at tourist attractions in Las Vegas, some of the entrepreneurs are planning to have quality entertainment with the inclusion of casinos in the hotels. The nightlife in Orlando is slowly changing with the addition of clubs, casinos, and other attractions. Those who relocate here for business are mainly looking at the opportunities thrown open by the addition of new entertainment venues and the growing population.
Commercial real estate prices are increasing at an annual 8 to 10 percent rate. In fact, the growing interest among the buyers is driving the real estate prices, as the land available for development into commercial buildings becomes rarer. The local government, to get over the problem, is taking a hard look at the available space and preparing the ground to include new areas for development. This is likely to change the availability of commercial space for new ventures in Orlando.