Updated: May 2
Triton Realty Group, LLC, in cooperation with Citrus Ridge Real Estate, has completed the $7-million sale of a 17-acre land site in Kissimmee, FL. The property on Irlo Bronson Memorial Highway is six miles from Walt Disney World Resort.
The site is being designed to accommodate a retail outparcel, a hotel, and an apartment complex.
This is the third transaction in the Kissimmee area over last 15 months facilitated by Edward Liss, SVP at Triton Realty Group and Jose Cantero, president at Citrus Ridge Real Estate. In March of 2021 they completed the sale of a 436-unit hotel-to-apartment conversion for $16.4 million and in October of 2020 a sale of a 295-unit hotel-to-apartment conversion for $15.6 million.
“The conversion of 300-square-foot hotel units to studios with resort-like amenities is a growing trend in the area as there is a major void in “affordable” or workforce housing in the area,” said Liss.