Real Estate

Native Southern Californians are speeding up real estate in Central Florida

Pre-commercial real estate broker and the origin of Southern California Aaron Dunn He moved cross-country to Orlando, Florida last year, and has heard many tales about the area’s rapid growth.

Nearly a year later, watching firsthand what is happening in Central Florida and why his new company, based in Dallas Lincoln Real Estate has big plans for the area. Dan, who joined the company last year as a senior vice president of brokerage, is already immersed in helping Lincoln find office tenants for a new tower in downtown Orlando, retail food court tenants and industrial tenants across the Interstate 4 lane that connects Orlando to Tampa.

Dunn said Orlando’s population growth and cost of living have boosted the area’s ability to attract new business, leading to new demand for real estate. In response, Lincoln is pressing ahead with additional developments and expanding its customer service team, he said.

“Companies are seeing the benefits of having a pool of colleges and equitable growth in Orlando, which we are excited about right now,” Dunn said in an interview. “Of course, the housing market is still on fire at the moment, and it won’t stop anytime soon.”

Dunn said Central Florida has proven popular among companies that want to establish a cost-effective presence in the Sunshine State. This demand, especially from technology companies, fueled Lincoln’s decision to develop the edge, a 32-story mixed-use tower with 200,000 square feet of office space on seven floors in downtown Orlando. Plans call for the Edge to also have 240 multifamily units.

The Edge will be the next stage of the development of Church Street Stations It extends from South Street to Church Street and includes 28 new floors Troist Plaza Dan said: Mixed-use tower, Pompeii Arcade dining hall, and Cheyenne Salon. Lincoln expects demolition work to begin next month to make way for the Edge and to be completed in the second quarter of 2024.

“We’re seeing renters who want to move out of older buildings either on the market or off-market all over Central Florida and then also from other states who are looking to locate themselves in Florida,” he said. “Those renters who want to build a house in Florida right now don’t necessarily want to go to Miami. They want it to be something that’s a little more affordable but also has a lot of people.”

Alex Eastwood (Lincoln)

In January, Lincoln plans to open Bumby Arcade Food Hall in the creative office building in 126 West Church Street Dan said by the edge. Interior construction is underway in the food court which will include a winery, brewery and a modern.

“We want to help support growth in downtown Orlando,” he said.

Dunn said industrial development is also an area of ​​focus as the market remains strong in Central Florida. He said Lincoln has between 3.4 million and 5.5 million square feet of space in its pipeline.

“You can’t build it fast enough now,” he said of industrial space. “There’s a huge demand for large industries, which is really exciting. That’s why we’re growing our industrial leasing team right now.”

Lincoln just hired a broker Alex Eastwood As a brokerage manager to focus on leasing her new industrial space. Eastwood He joined Lincoln earlier this month from Avison Young.

“We’re excited to have him on board and then hopefully next year another couple will join us,” Dan said.

While Lincoln is focusing its industrial efforts along the I-4 corridor, the company said it is also looking at locations in other Florida cities including Deland, Daytona and Jacksonville. Dunn said the company expects to begin construction in earnest at three industrial sites in Central Florida in the first quarter of next year.

Prior to leaving California, Dan worked for more than nine years at Lockehouse Retail Group, a specialty retail brokerage. The headquarters are in Walnut CreekCalifornia.

Dan, who has a brother in commercial real estate, said he became interested in a career in the industry while studying development at the University of Southern California. Brett NielsenD., an assistant professor at the University of Southern California whose day job is as senior vice president of leasing and asset management at mixed-use development company Caruso, has had a lasting impact on Dan.

“It got me really interested in both the retail and mixed use, and the rental side of that,” he said.

Dan and his wife decided to move to Orlando, where his wife had a family, after the birth of their child. his wife, Desiree Staley Danworks as Vice President of Marketing at Lincoln.

Dan, who grew up near Anaheim, California, and was working in Northern California when they moved, said he really came to love Orlando.

“It’s a little bit warmer and wetter, but other than that, it was great,” he said. “We’re in a really cool neighborhood, the Lake Nona neighborhood, where a lot of the growth in Orlando goes.”

Lisa McNatt, Director of Market Analytics at CoStar, contributed to this article.