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New office and commercial construction in the works near downtown Winter Garden

New office and commercial construction in the works near downtown Winter Garden

6.17.21 | Jack Witthaus

Winter Garden land along Colonial Drive may soon transform into commercial space as the fast-growing city continues to expand west.

Applicant RCE Consultants LLC discussed with the city of Winter Garden on June 9 a plan to transform 4.3 acres at 14909 W. Colonial Drive into roughly 41,900 square feet of office and other commercial space, according to Winter Garden records obtained by Orlando Business Journal through a records request. A project cost estimate wasn’t known.

Representatives with RCE Consultants weren’t available for comment.

Albert and Debra Bori bought the property for $960,000 in April 2004, Orange County records show. Reliable Development Corp Inc. was the seller. The property’s current market value is $1.2 million, according to the Orange County Property Appraiser.

Why new development

The city of Winter Garden has seen new construction of homes as Central Florida’s population grows — and that growth is moving westward toward Oakland and Clermont.

For example, Orlando-based developer Unicorp National Developments Inc. is building its 342-unit Avenue at Oakland project northeast of Oakland Avenue and Florida’s Turnpike west of RCE Consultants’ proposed Winter Garden development.

These new residential projects feed demand for more commercial space, said Sharon Williams, principal of Winter Garden-based real estate firm Exchange Place Inc., who is not involved with the proposed office and commercial project at 14909 W. Colonial Drive.

That said, land prices are high in the area as development pushes out west. “That’s pretty much been untouched,” Williams said. “Now it’s really starting to get developed.”

Meanwhile, less than four miles west of RCE Consultants’ proposed Winter Garden project, another major retail development is rising. Seattle-based Costco Wholesale Corp. (Nasdaq: COST) is seeking approvals and permits from the city of Clermont for a future warehouse on State Road 50 north of Magnolia Pointe Boulevard on 19.2 acres. The store will be 151,000 square feet, which is a typical size for a Costco location.

The Millenia/MetroWest office submarket, which includes Winter Garden, features a 9.9% average vacancy rate, which is lower than the Orlando-area average of 11.7%, Cushman & Wakefield reported.

In addition, the submarket’s Class A average office asking rent is $28.69 per square foot, which is higher than the Orlando-area average of $26.96 per square foot.

Both metrics point to demand for office space in the submarket.

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