On November 2, 2020 Tupperware Brands announced its plans to remain in the Orlando area.
Not only remain, actually — expand. The company just closed on a deal with O’Connor Capital Partners for the 41 acres of land that Tupperware Brands‘ headquarters is located on.
Tupperware will be selling over a hundred acres to O’Connor Capital Partners in total, and it’s all part of their plan to free up capital and direct it towards core business operations. The O’Connor group, in turn, plans to develop their newly acquired land for new business opportunities.
“The decision to enter into a long-term leaseback agreement with the O’Connor Group demonstrates our continued commitment to the Central Florida area,” said Tupperware Brands’ CEO, Miguel Fernandez. “Tupperware has always had a place and a voice in building the community […].”
Considering that Tupperware Brands has been in the Orlando area since its founder purchased over 1,300 acres in 1953, that’s no exaggeration. At that time Tupperware Home Parties was the largest corporation in Orlando — and its success brought the entire area up with it.
According to O’Connor Capital Partners, the Tupperware deal was only fitting.
“We have been partners with Tupperware Brands in the development of many properties in the Kissimmee area since 2003,” said the company’s Peter Bergner. “We are thrilled to continue our partnership and look forward to helping further develop this dynamic sub-market.”
The partnership also holds promise for Kissimmee’s real estate. Tupperware and O’Connor have a pretty strong track record of developing land: together they’ve built out two premier shopping complexes, The Loop and The Crosslands, and they’re in the process of building out a 37-acre development next to the Tupperware SunRail station.
What does all this mean for prospective real estate investors? That the Central Florida real estate market is still hot! It’s weathered COVID remarkably well and continues to maintain its momentum. In other words, the market continues to hold promise for investors. If you want some help navigating it, we’re here for you.
The Kissimmee area’s job market is expected to benefit from Tupperware’s deal, too. Once their old land is developed it’ll be able to create a significant number of new jobs (including, as you might expect, plenty of construction jobs).
We care.
If you’re ready to invest in Central Florida real estate, we’re ready to help. At Icon Property management we truly care about our clients, investors, and tenants — and we have vast experience helping them reach their goals.
Ready to get in touch? You can do so by completing our contact form or calling (321) 297-8960. We look forward to speaking with you!
To your peace of mind, Central Florida investments included,
Icon Property Management
