General

Running through notable Orlando-area closures

Because we work in the commercial real estate industry, we watch with interest as companies and businesses come and go from the Orlando region.

Keeping track of changes in the commercial real estate market can speak to important trends, such as which neighborhoods are becoming desirable and which have lost their luster, and which industries are picking up and which are slowing down.

We recently came across a list of Orlando-area restaurants and retail stores that have closed lately. It included:

• Shipyard Brewing Company in Winter Park, which closed this month.
• Frozen yogurt chain Pinkberry, which closed its location in Dr Phillips in July 2013
• Five Guys Burgers and Fries in downtown Orlando, which shut its doors in July 2013.
• Scruffy Murphy’s bar in College Park, which closed up shop in in March 2013.
• Zara’s location at the Mall at Millenia, which stopped doing business in February 2013.

As we see it, this list of restaurant and retail closures presents a mixed picture.

On one hand, you have small, independent businesses, like Scruffy Murphy’s. It is well-known that it is very difficult for entrepreneurs to establish successful enterprises in the very tough restaurant industry.

On the other hand, you have major chains, like Pinkberry and Zara, that traditionally do quite well and have a reputation for being selective as to when and where they open new outposts.

All in all, it seems that doing business in the Orlando area can certainly be rewarding, but is not without its challenges

Source: The Orlando Sentinel, “Closed for business: Orlando-area retail and restaurant closings,” last accessed Aug. 17, 2013

Fri Aug 24, 5:42pm