JLL Tapped To Manage Newly Acquired Portfolio Of Trophy Office Towers

Feb 22, 2018 No Comments by

JLL announced today that the firm has been retained by Southwest Value Partners (SWVP) to manage three Class A office buildings that the ownership group recently acquired in Downtown Orlando.

The Bank of America Center, Citrus Center and One Orlando Centre comprises a portfolio totaling more than one million square feet, offering tenants a wide range of office spaces and a rare entry point into a mixed-use urban market in one of the fastest-growing cities in the country.

JLL Regional Manager Sean McNamara will spearhead the management efforts on behalf of Southwest Value Partners, a privately held real estate investment company that focuses on institutional quality real estate located in growth markets within the US. CBRE’s Jay Dixon and Tom Rich will serve as the exclusive leasing agents for the properties.

 

“Each of the three buildings in this portfolio are some of the most iconic trophy assets in Downtown Orlando’s office market,” said JLL’s Sean McNamara. “We are excited to partner with CBRE on behalf of Southwest Value Partners to reach each asset’s full potential by providing best-in-class property management services.”

The 28-story Bank of America Center, located at 390 North Orange Ave., totals 421,069 square feet. Citrus Center is situated at 255 South Orange Ave., at the intersection of Orange Avenue and East Jackson Street. The One Orlando Centre at 800 North Magnolia Ave. is a 355,783-square-foot., 19-story Class A office tower.

JLL’s Q4 2017 Office Insight report cites that Class A asking rents in Downtown Orlando have reached $28.69 per square foot. This is the first time asking rents climb above $28.00 per square foot since the third quarter of 2009, almost a decade ago. This new peak in rental rates is fueled mostly by consistent tenant demand.

 

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Industry News, NA, Office
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