Avison Young Secures 22,500 SF Of Leases At Orlando’s Triplex

Avison Young has completed two new leases totaling 22,500 square feet at Triplex, a three building office / warehouse portfolio totaling 212,815± square feet located at 4653-4677 L.B. McLeod Road in Orlando’s Southwest Orange County submarket. Representing the trend of robust activity with smaller users ranging from 3,000 to 10,000 square feet dominating, the Avison Young team of Lisa Bailey, Principal, and Lawson Dann, Senior Vice President, secured four new leases totaling 43,594 over the past three months at Triplex on behalf of the asset’s ownership, FGHP Properties Limited Partnership. Southeast and Southwest Orlando are experiencing rapid positive absorption of industrial space, with the Southwest Orange submarket having the greatest impact on the Q2 2015 absorption of 340,387 square feet. A new study by Forbes ranked Orlando as #4 metro in the country for highest forecasted employment growth. In line with this, the recent leases at Triplex include an established business in Central Florida experiencing growth and a new business venture:

• Party Guys, Inc., one of today’s leading specialists in producing unparalleled corporate and social themed events, signed a 13,500 square foot new lease.
• DGBEK Studios, LLC, a new hip-hop dance academy, signed a 9,000 square foot new lease.

“The Southwest Orange County submarket can attribute part of its occupancy uptick to the growth of the tourism industry and construction boom of late, as many of the tenants entering this market or expanding within are in auxiliary business lines,” said Dann. “Within the market, Triplex not only provides excellent distribution location in close proximity to Interstate 4, Kirkman Road, John Young Parkway, International Drive and the Florida Turnpike, but also access to a substantial residential base.”

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