With numerous projects and developments that Universal Orlando resort has been cooking up lately in which it’s a good time to expand for the resort. News broke out today in which Universal Orlando had purchased 101 acres worth of land near Sand Lake Road, adding to the 475 acres that they had purchased before hand.
Universal closed a deal with a $27.5 million buyout, a Universal spokesman confirmed for possible expansions for future projects the resort is considering. Back in December 2015, for a $130 million dollar purchase in which the land near Sand Lake Road that is adjacent and north of Universal Boulevard and west towards Destination Parkway. This gives Universal more than 570 acres to work with for expansions and larger then their current 3 theme parks (Universal Studios, Islands of Adventure, and Volcano Bay).
The former Wet n’ Wild property already has proposed plans for building more hotel resorts on the area, even though details aren’t fully confirmed of what they will be. Universal next addition of their high-tech and state-of-the-art hotel of Aventura will be opening next year in August.
Universal Orlando’s most recent purchase near Sand Lake Road, highlighted in yellow for future and possible expansions by the company. Source: (©Orlando Sentinel)
The company has been going legit hard for buying out land and needs to expand to draw in more for the tourism industry and also for one of their highly anticipated projects for Nintendo at Universal Studios. Universal’s attack of plan is open a brand new attraction every single year at each major location for Universal Parks & Resorts. Locations include Orlando, Hollywood, Singapore, Osaka, Japan and Universal has plans to build another park in Beijing, China.
Inland Real Estate Group from the seller of the 101-acre property is a subsidiary of the group. It was represented by Robert McEwan and David Murphy of CBRE’s Orlando office. It was also owned by a Universal-affiliated company at one time.
Recently in which Universal filed plans with the Orange County for 2,451 of “overflow” parking spaces near vacant land near Destination Parkway and the Orange County Convention Center. Tom Schroder, a Universal Orlando spokesman said nothing further to comment about the parking spaces in the area.
To put all the property into context of how much Universal Orlando has bought up, it’s roughly around 10,000 acres and bigger then the Disneyland Resort in Anaheim, California.
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Source: Orlando Sentinel