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Managing Director Scott Wadler, Senior Director Matt Nihan and Associate Director Alec Fox of Berkadia South Florida secured the financing on behalf of the buyer.
The Orlando office market saw improved office activity in the second quarter after a somewhat slow start to the year.
Average triple-net lease rents have reached $10.77 per square foot, representing a 62.9% increase since 2019.
Completed in 2019 and 2020, the property comprises 14 buildings on an 11-acre lot, part of the 325-acre Sunset Walk master-planned mixed-use entertainment community.
A nine-parcel area of SouthPark Center with five fully leased office buildings totaling 670,000 square feet is the subject of the planned new development.
Located at 2140 North John Young Parkway, the industrial site spans 3.53 acres with convenient access to the area’s major highways: I-4 and 408 Expressway. The tilt wall structure is scheduled to be delivered in the first half of 2024.
“This property offers significant upside as the Cape Canaveral port and space coast areas continue to develop around this property. Elon Musk and Jeff Bezos are investing billions in this space coast area and there is very limited supply of industrial properties around the port, said Eric M. Levitt, founder of EML Realty Partners.
Local construction company NEFCO signed a lease for 83,082 square feet of space while Evolution Electric Vehicles will occupy Building 200, plus 71,210 square feet of space in Building 100.
Synonymous with Florida retail, office, industrial, land brokerage and property management for 18 years, this new brand identity is reflective of the firm’s evolution, growth, and positioning for continued success.
The neighborhood center is 90% occupied and anchored by Ollie’s Bargain Outlet and Dollar Tree.
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