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Orlando Business Journal
Orlando Health makes $910M investment in out-of-state hospitals
Orlando Health will acquire a majority interest in five Birmingham, Alabama hospitals from Tenet Healthcare Corp.<\p> The Orlando-based nonprofit health system announced it will acquire a 70% interest in Brookwood Baptist Health from Dallas-based Tenet (NYSE: THC), allowing them to enter the state for the first time. The deal is for more than $910 million in cash and is expected to close by the fall. <\p>
This Seminole Towne Center building's price tag doubles
The two-story, 130,854-square-foot building that is home to the Dick's Sporting Goods store at the Seminole Towne Center in Sanford is for sale for $16 million — more than double the price the current owner paid just two months ago. <\p> The building also includes the vacant space that formerly housed a Burlington location.<\p>
SVN/Saunders Ralston Dantzler's new president plans expansion
Lakeland-based brokerage SVN/Saunders Ralston Dantzler is stretching out, both regionally and beyond Florida's borders. That's the word from Tyler Davis, who was named president at SVN on July 25.<\p> Founded in 1996, SVN is a full-service commercial brokerage with a particular focus on land investment. Davis began as an adviser with firm in 2019 before becoming chief financial officer. He previously worked as a CPA in Birmingham, Alabama.<\p>
What’s next for Camping World Stadium upgrades
City of Orlando leaders are making progress on naming a key part of the project team for upgrades at Camping World Stadium.<\p> The city is working through the selection of a project manager for the proposed upgrades to the city-owned venue, which is being funded by $400 million in Orange County tourist development taxes. <\p>
Ownership, management and menu changes at Thornton Park restaurant
Jack & Honey’s in Thornton Park — the casual eatery that opened less than a year ago — already is undergoing a major executive-level shuffle.<\p> The restaurant's co-owner Wendy Connor, General Manager Mike Goings and Chef Hannah Wicker have departed, leaving former co-owner Jason Lambert as sole owner. In addition, the eatery has brought in Lee Wolfcalf to manage the eatery, said staffer Eryn Modica, who was authorized to speak on behalf of the restaurant.<\p>
Padel courts in the works near downtown
A padel facility is proposed near downtown Orlando on land owned by Team Market Group.<\p> Orlando Padel Experience would include eight outdoor courts for the sport — which is similar to tennis but played with the court surrounded by glass — and use an existing 3,455-square-foot building for locker rooms, a store and a restaurant with beer and wine, according to city of Orlando documents. <\p>
The job market just hit a level not seen in a decade
The job market is slowing to levels not seen in more than a decade, and a weaker-than-expected jobs report Friday morning is fueling anxiety on Wall Street and beyond. <\p> Employers and investors in search of a silver lining can perhaps find it in the form of newly available data on job cuts.<\p>
How Orlando ranks for recent college grads
A recent report from ADP Research Institute suggests metro Orlando is a market where recent college grads will find plenty of opportunity to be hired and relatively reasonable cost-of-living considerations — but also one where they're not likely to be wowed by their salary.<\p> Titled "You've graduated. Now what?", the ADP Research Institute study ranked 55 U.S. metros with at least one million residents to determine which are best suited for recent college graduates plotting out a job search. The research institute is an entity within the larger organization of Roseland, New Jersey-based human resources powerhouse ADP.<\p>
Florida Tech, Embry Riddle create space manufacturing partnership
A pair of Central Florida universities are working with two state universities to boost manufacturing tied to space. <\p> Florida Tech, the University of Florida, Florida A&M University and Embry-Riddle Aeronautical University partnered to create the Center for Science, Technology and Advanced Research in Space (C-STARS). Researchers from the multisite center will focus on in-space production and techniques in six areas, including "cell and tissue tools, bioenergy systems, advance material electronics, AI and machine learning, lab-on-a-chip systems and recycling and sustainability."<\p>
How population, home values and wealth growth reshape the region
Tourists and locals fill the seats in the sweltering 91-degree St. Cloud heat as George Van Horn, herpetologist and owner of Reptile World Serpentarium begins his second snake venom show of the day where he extracts venom for medical purposes and avoids getting bit an 18th time.<\p> The 52-year-old reptile zoo is one of many businesses in St. Cloud’s 34771 ZIP code, the fastest-growing ZIP code in all Central Florida according to data from the Census Bureau. "Every time we turn around, there's another big [development]."<\p>
Here's how much money you need to earn to join the top 1% in Florida
The latest SmartAsset study highlights how much a Florida resident needs to earn to be considered among the state's highest earners.<\p> The U.S. threshold for joining the top 1% stands at $787,712 in 2024, a 20% increase from the roughly $652,000 required last year, according to a new analysis of IRS data from SmartAsset. By comparison, SmartAsset said that the median annual income in the U.S. stands at about $75,000. <\p>
The lack of soft skills emerge as lagging Florida workforce headache
The Florida Chamber’s Florida Workforce Needs Study 2.0 is out. <\p> It is a sequel to an initial needs study in the early pandemic recovery and dives deeper into the talent-matching challenges that Florida job creators face. The chamber said that for every 100 open jobs in Florida, 91 people are looking for work, and not all job-seeking talent is qualified to fill those open positions. <\p>
Former Buca di Beppo Maitland location for sale
The former Buca di Beppo location in Maitland is for sale as part of an assemblage of three properties for $7.62 million.<\p> The second-generation restaurant at 1351 S. Orlando Ave. is being offered with a nearby two-story office building at 140 Circle Drive and a parking lot at 261 Circle Drive. All three properties are owned by Adam Tiktin of Miami-based United Capital.<\p>
Small-business grants you can apply for this month
Small-business owners are increasingly confident about the economy despite staffing and interest-rate concerns.<\p> New research from financial, insurance and advisory services firm CBIZ Inc. found that business owners have gotten used to higher but relatively stable interest rates over the last 18 months.<\p>
NFL Pro Bowl Games to return here
The NFL Pro Bowl Games are headed back to Orlando. <\p> For the second straight year, the all-star event for the National Football League will be hosted at Camping World Stadium and other Orange County venues. The flag football game with NFL athletes will occur Feb. 2, 2025, with a full schedule of events during that week to be announced closer to the event.<\p>
How a FaceTime call led to the creation of this local golf app
Ethan Andrews's Parfour golf app was inspired by a FaceTime call. <\p> Andrews, the CEO and co-founder of Windermere-based Parfour, was on the golf course about four months ago when his younger brother Ian was at work and said he wanted to watch someone play, but not on YouTube or the PGA. Ethan joked around and video-called his brother for nine holes, which helped lead them — as well as their older brother Caleb — to develop the app.<\p>
Don't give up on paper checks before considering all the consequences
Target Corp. stopped accepting personal checks for customer purchases earlier this month, joining the ranks of big businesses that have ditched the old-school payment method.<\p> It's a lineup that includes the likes of Whole Foods, Aldi and Old Navy, all of whom have canceled checks as a payment option. At the same time, digital payments through the likes of Venmo, Cash App, and other card- and phone-based systems have skyrocketed.<\p>
American Airlines to end this local nonstop flight
American Airlines this fall will end a nonstop Orlando flight as a part of a reduction of service in Austin, Texas. <\p> The Fort Worth, Texas-based airline in October will end five nonstop flights from Austin-Bergstrom International Airport, including year-round service to Orlando, Las Vegas and New Orleans, and seasonal flights to Palm Springs, California; and Reno, Nevada.<\p>
Parramore warehouse across from Inter&Co Stadium for lease
A nearly 100-year-old iconic warehouse space in Parramore across the street from Inter&Co Stadium has hit the market for lease.<\p> The building at 617 W. Central Blvd. has three spaces available, two with 5,290 square feet and one with 5,635 square feet for a total of 16,215 square feet, each for $16.50 per square foot per year. The property also features a fenced-in 40-space parking lot.<\p>
Podcast: OrthoNow's Alejandro Badia on life as a surgeon, disruptor
South Florida Business Journal Editor-in-Chief Mel Meléndez recently spoke with Dr. Alejandro Badia, surgeon and founder of OrthoNow, for the latest segment of the Florida Business Minds podcast.<\p> Sponsored by TECO Peoples Gas, the audio series features candid conversations with business leaders from the Orlando, South Florida, Tampa Bay and Jacksonville regions.<\p>
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