Kevin McNally, Partner, CohnReznick Advisory LLC

April 2026 — Invest: spoke with Kevin McNally, partner at professional services firm CohnReznick, about why Central Florida keeps attracting capital, how redevelopment is reshaping key corridors, and what disciplined investors are watching as Orlando’s profile becomes increasingly national. “Orlando may have been more locally driven in decades past, but I do not think that is the future,” McNally said.

How would you characterize the financial and advisory climate in Central Florida, and what milestones have had the biggest impact in the region?

Orlando continues to stand out as a growth area. There has been meaningful infrastructure investment, particularly along the I-Drive corridor. That investment is supporting new development while also making older assets more attractive for acquisition and redevelopment.

We are seeing a mix of new building and reinvestment in established areas, and that combination is bringing new energy into the market.

Looking at economic forces, what do you think are the most influential for middle-market businesses in Central Florida?

Affordability remains a core advantage compared to other regions. Central Florida is also a logistical hub, supported by an airport that reaches essentially everywhere and a central location that helps the movement of goods, services, and people.

Land availability for warehouse and distribution uses continues to support middle market expansion and relocation decisions.

Real estate and construction remain key economic drivers. How are developers adapting to higher demand, rising costs, and financial constraints?

Development in Central Florida takes many forms, and location often dictates who a project is designed to serve. Along the I-4 corridor, you see areas like Lake Nona, positioned as a healthcare and technology hub near the airport, with luxury homes, multifamily, and mixed-use growth.

To the west of the corridor, you see entirely new communities taking shape. One advantage Central Florida has is that there is still more land available, which can give developers flexibility across multiple price points and niches. You also see land banking, where investors buy parcels now and determine later how to develop them.

How is infrastructure investment changing the practical experience of growth in Orlando?

In older zoned areas, reinvestment is visible. New roads are going in to support the widening of I-4, the expansion of Universal’s parks, and the widening of Kirkman, along with efforts to facilitate tourist movement through the I-Drive corridor.

Development is also arriving with the services that have to come with population growth. For example, some healthcare providers are opening freestanding emergency rooms, separate from hospitals, to keep pace with growing communities.

Where do you see the most opportunity for different assets, and where should investors stay cautious?

Housing demand remains strong, and Central Florida has been a leader in new home communities. Beyond housing, I expect increasing interest in older commercial districts and legacy commercial properties that are positioned for redevelopment, new investment, and stabilization.

Caution is largely about selectivity and structure. Each asset has different moving pieces, and in this environment, leverage and execution discipline matter.

There has been discussion about transaction activity and M&A. What is your take given the current environment?

M&A dynamics are often driven nationally, and Orlando is increasingly reflecting those national conversations as more national forces enter the market. Orlando may have been more locally driven in decades past, but I do not think that is the future.

Going forward, I expect more national players in the marketplace, which typically changes competition, expectations, and how quickly trends reach the region.

As Orlando’s profile rises, what planning strategies are becoming more critical for businesses relocating into the region?

Florida is attractive for out-of-state operators and investors because the cost of doing business is generally lower from a tax perspective. There is no personal income tax, and the corporate tax environment is competitive. In many cases, relocation challenges stem more from where companies are exiting than from Florida itself.

More broadly, businesses benefit when state, local, and federal priorities are aligned around facilitating responsible growth and attracting the right mix of industries.

From the advisory perspective, what services and strategies are becoming more important as the market matures?

We support clients across the lifecycle of a deal. That includes helping clients value transactions, determine the value of underlying real estate assets, and evaluate the outlook for stabilization and performance.

In real estate, outcomes depend on the asset and its moving pieces, including leverage structure, investor profile, market position, and projected growth. Advisory becomes most valuable when clients need to pressure-test assumptions and understand tradeoffs before committing capital.

Orlando is growing quickly in technology, automation, and AI. How is CohnReznick staying ahead to enhance services and improve client insights?

We have local people in our markets, but we provide services and innovation on a national basis. We pull from our network to bring the right expertise to Orlando’s needs, which is especially important as deals become more complex and more innovation-driven businesses emerge.

That breadth is one reason I was excited to join the firm. I had operated in Orlando under a different structure previously, but I did not have the full capacities that CohnReznick provides. That includes support around security infrastructure and risk, which can be critical for technology startups and growing companies.

The CPA profession faces a pipeline challenge. What could be done to help younger generations see opportunity in the field?

The CPA profession is highly valuable, and the designation remains important. I am not a CPA, but I recognize the strength of that credential. Some state boards have become more flexible in how they award credit for CPA requirements, and the AICPA is working with state boards to help facilitate interest in the profession.

A lot also comes down to outreach from firms. When firms engage on college campuses, students can see clearer pathways and understand the range of opportunities available. With the onset of AI, it is also important for new professionals to understand that the accounting profession is adapting so they should learn how to use AI responsibly and apply it within ethical and licensing requirements.

How do you expect AI to change professional services, and what should business leaders keep in mind?

I don’t think that an AI tool is the replacement for a human connection. Especially in client service, people want a person delivering the service rather than an automated bot. AI can improve efficiency, but it should support professionals, not substitute for relationships and judgment.

For business leaders, the key is to use AI to sharpen processes while maintaining accountability, trust, and clarity with stakeholders.

Looking ahead, what do you expect for Orlando and for CohnReznick’s growth in the next three years?

We have a presence in South Florida, we are strong up north, and Tampa and Orlando are key Central Florida markets for us, with a focus that extends across the broader region.

Over the next three years, we intend to consolidate and grow our capabilities in lockstep with Central Florida’s growth. If you follow the I-4 corridor, that is where the growth is happening, and that is where we are positioning resources to stay aligned with the region’s trajectory.

Want more? Read the Invest: Greater Orlando report.