Documents reveal ‘repurchase triggers’ that would force Disney to sell Lake Nona land back to Tavistock | Orlando Business Journal
Lake Nona’s master developer not only has a say in what happens next with the 60 acres it sold to The Walt Disney Co. (NYSE: DIS) for the theme park titan’s abandoned corporate campus project, but it also has a timetable for when it might get the land back.
A review of legal documents related to the September 2021 land sale between Burbank, California-based Disney and Tavistock Development Co. LLC shed some light on when Disney may have to resell all or part of its Lake Nona property in southeast Orlando to Tavistock as a result of it nixing plans to build a 1.8 million-square-foot office campus there.
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However, a company as well capitalized as Disney should be able to hold the land without much issue, said veteran Orlando land broker Daryl Carter of Maury L. Carter & Associates, who isn’t involved with the project. Executives likely will talk through a number of considerations as to what to do next — and when to do it, Carter told Orlando Business Journal.
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