JLL To Lead Leasing At Lake Mary Office Campus Following Acquisition By JV

JLL has been retained to lead leasing at Primera Towers following the acquisition of the 771,826-square-foot Class A office campus in Lake Mary by a Joint Venture between IP Capital Partners and Highline Real Estate Capital.

The transaction significantly expands IP Capital Partners’ Central Florida office portfolio to nearly 1.2 million square feet.

The five-building Primera Towers, located along Interstate 4 in Lake Mary, represents a strategic addition to Boca Raton-based IP Capital’s growing regional holdings and builds upon the firm’s existing Central Florida presence and office operating experience. IP Capital is a South Florida-based private real estate investment and asset management company.

This acquisition follows nearly 800,000 square feet of Florida office assets acquired by Miami based Highline Real Estate Capital in 2025 and expands on their strategy of acquiring well located, high quality assets that can be repositioned to take advantage of Florida’s strong office recovery.

JLL Managing Director Micah Strader will oversee leasing efforts at Primera Towers on behalf of ownership.

“Primera is one of the largest Class A office campuses in Lake Mary, and we see significant opportunity to build upon the momentum already underway,” said Strader. “IP Capital and Highline’s involvement has brought renewed energy and investment to the property, and we continue to see strong tenant demand for the best buildings in the market.”

Since the venture acquired the loan on the property in 2025 and worked toward ownership, the campus has experienced a notable wave of leasing activity totaling 88,169 square feet, including more than 55,044 square feet signed in 2026.

Among the most recent commitments is Venture X, the upscale coworking and flexible workspace provider, which will occupy approximately 26,592 square feet at Primera Tower III, bringing the building to nearly 90% leased. JLL represented ownership in the transaction, while Venture X was represented by Rick Solick of Colliers.

“The strategic investment in Primera represented an investment opportunity in a submarket with rapidly improving fundamentals” said IP Capital Managing Director Bill Dolan. “As we expand our regional footprint, our focus is on continuing to invest in the tenant experience and positioning the campus for long-term success.”

Primera Towers offers a fully integrated workplace environment designed to support today’s workforce, featuring on-site fitness centers, multiple conference facilities, cafés, indoor and outdoor tenant lounges, high-speed fiber connectivity, outdoor work patios, a food truck pavilion, and on-site security and property management. The campus is surrounding with strong demographics & tenant demand, provides generous parking, and convenient access to Interstate 4, downtown Orlando, Orlando-Sanford International Airport, and the Lake Mary SunRail Station.

The buildings themselves are distinguished by their Class A design and finishes. Exterior features include spandrel glass curtain walls accented by polished granite veneers and panels, while each tower welcomes visitors with a dramatic two-story atrium lobby finished in marble and granite. Additional building features include insulated reflective solar glass windows, modern single-membrane roofing systems, and high-quality interior finishes such as carpet tile flooring, satin stainless-steel hardware, and cherry wood doors.

According to JLL’s Q1 2026 Orlando Office Insight report, leasing activity reached 582,000 square feet, up 13% year-over-year, with demand concentrated in Class A assets. Vacancy declined to 14.5% while rents continued to rise, reflecting sustained tenant preference for modern, high-quality office environments.