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Orlando's best-known piece of real estate celebrates milestone

For Central Florida residents born in the last four decades, it may seem as though one of the defining features of our area has always been there. Walt Disney World's Magic Kingdom opened 42 years ago this month, several years after Disney himself announced the park would be built. Disney didn't live long enough to see the park get built, but his brainchild ended up being a spark that ignited Orlando as a worldwide tourist destination.

The path to build the park was a complex one. Disney and his team were interested in the Florida market, but there were many factors that went into the selection of the proper area of commercial real estate. Ultimately, an inland site was chosen over locations such as Miami or Tampa in order to be somewhat sheltered from hurricanes that hit the Florida coast from time to time.

According to histories of the park, several shell companies were started with unrelated names so as to not alert potential sellers who the buyer was. Had people known that Disney coveted the land, the price per acre might have skyrocketed. In the end, the park was built where it was, at least in part, thanks to the infrastructure the Orlando area had in place.

While today's business owners won't be looking for as much land as Disney was, there are myriad factors that can go into finding the best match of commercial real estate to a business's needs. An experienced commercial real estate attorney can provide guidance when it comes to making these sorts of decisions.

Source: Orlando Business Journal, "Happy birthday, Magic Kingdom! Park celebrates 42nd anniversary," Megan Anderson, Oct. 1, 2013

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