Area15, a premier entertainment venue in Las Vegas, has made the decision to cancel plans for a new Orlando, Florida location. The 16.5-acre site, located north of the Orlando Vineland Premium Outlet, is now officially for sale.
Opened in 2022, Area15 was set to offer a similar immersive experience in Orlando, complete with attractions such as an art museum, amusement park, and shopping mall. However, the company has opted to discontinue the project, leading to the removal of the property’s iconic 16-foot-tall robot statue, Mechan 11. The land is now being marketed by international real estate firm CBRE, although the asking price has yet to be disclosed.
Area 15 Orlando LLC acquired the land in 2022 for $24.8 million, with the Orange County Property Appraiser currently estimating its value at $23 million.
While the Orlando venture has been scrapped, Area15 continues to thrive in Las Vegas, where it attracted nearly 2 million visitors in its inaugural year. The Las Vegas spot boasts various attractions, including Van Gogh: The Immersive Experience, VR experiences, golf simulators, zip lines, a range of restaurants, distilleries, and live events such as concerts.
The cancellation of the Orlando Area15 project comes at a time when Universal’s Epic Universe is poised to open next year, heightening competition for new developments in the tourist-heavy area. The CBRE Land Group, which played a role in the acquisition of Universal’s Epic Universe, is managing the marketing efforts for the Area15 Orlando property.
The decision to abandon the Orlando project has disappointed many who were eager for a new entertainment destination, yet it’s essential to recognize that the Las Vegas location remains a top attraction for visitors.
[H/T] Orlando Business Journal
