Orlando Office Submarket Winning Favor With Investors

Mar 16, 2017 No Comments by

A Class A office building known in its area for unique architecture and build outs has a new owner. 1485 International Parkway has traded hands.

CBRE Group facilitated the sale of the class A suburban office building in Lake Mary, in Seminole County.

CBRE’s Ron Rogg and Chip Wooten represented the seller, World Class Capital Group, in the transaction. World Class Capital Group completed the successful repositioning of the building during its ownership, priming the asset for this sale.

 

“The Lake Mary office market has been getting a lot of attention from investors lately and we see a trend for suburban office investments in the Orlando area,” Rogg, executive vice president of CBRE Capital Markets, tells GlobeSt.com. “Nowadays, companies are looking for a location that allows for a great work-play balance and Lake Mary is offering just that, along with close proximity to major roadways.”

Built in 2006, the office building is 91% leased to six tenants from several different industries. The office property is located at the southeast quadrant of International Parkway and Heathrow Center Lane. Christian Financial Resources acquired the 27,540-rentable-square-foot office property.

 

“Given the popular location of this property in one of the most sought-after suburban submarkets in the Orlando area, we received a lot of interest from investors,” says Rogg. “The building is situated within walking distance to the heart of Lake Mary’s retail and entertainment district and its contemporary architecture has helped attract a variety of Millennial-rich tenants such as Evok Advertising.”

 

Source:  GlobeSt.

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Industry News, NA, Office
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