Cousins Properties To Unload More Than 1 Million SF Of Orlando Office Space

Oct 11, 2017 No Comments by

One of downtown Orlando’s largest office landlords wants to get out of town.

Atlanta-based Cousins Properties Inc. has tapped Atlanta-based Eastdil Secured — a real estate investment banking service offered by Wells Fargo — to market its Orlando office portfolio of more than 1 million square feet office space, an Eastdil Secured representative told Orlando Business Journal.

The portfolio includes:

  • The 28-year-old, 421,069-square-foot, 28-story Bank of America Center at 390 N. Orange Ave., Orlando’s fourth-largest high-rise
  • The 30-year-old, 355,783-square-foot 19-story One Orlando Centre office tower at 800 N. Magnolia Ave.
  • The 46-year-old, 260,751-square-foot, 18-story Citrus Center at 255 S. Orange Ave.

Cousins assumed ownership of the three towers in October 2016, when it made a $2 billion-plus acquisition of Florida-based Parkway Properties Inc.

The Bank of America Center is 89.2 percent leased, the One Orlando Centre is 80.5 percent leased, according to JLL‘s most recent real estate market report. The Citrus Center is 96 percent leased, marketing materials showed.

 

Source:  OBJ

 

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Industry News, NA, Office
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