There’s some interesting real estate news regarding the Walt Disney Company. The Walt Disney Company purchased 26.3 acres of land near Magic Kingdom on March 31st, 2020. They paid $1.05 million for the land, which comes to $39,923 per acre. The land is located west of Magic Kingdom and on the southeastern shore of Reedy Lake.
Disney hasn’t revealed its plans for the land bought in their recent acquisition. However, they could have bought the land for various reasons. In the past few years, Disney bought land for reasons such as conservation and future expansion plans. Land is a hot commodity in Central Florida given the population growth in the area. So buying the land now would be a smart move for Disney so the company can hold onto it as an asset for future development.
The 26.3 acres of land is a fraction of the size of the Disney theme parks. Even though it may not fit a new theme park, the land could be used for new resorts or activities for Disney guests. We’ll know for sure once the company announces their plans for the land area.
What would you hope to see built on this new plot of land?
Source: Orlando Business Journal
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