The Orlando office market is finally seeing positive absorption across all major submarkets. An impressive second quarter recorded 122,423 square feet of positive absorption, bringing the total for the first half of the year to 156,778 square feet.
Ron Rogg of CBRE represented TerraCap in the sale transaction.
Located on 15 acres within Central Florida Research Park, Challenger South I and II were 93 percent leased at the time of sale.
The multi-tenant complex is 98% leased to 28 tenants across multiple suites. The properties are situated on a 12.28-acre site, which features 521 surface parking spaces.
Kent Cooper, CCIM, a CFCAR past president, was awarded Deal of the Year and 17 other awards were presented.
The 94,000-square-foot asset sold for $22 million.
Constructed in 2011, 618 East South St. is downtown Orlando’s first privately developed LEED-certified building.
PPF Real Estate acquired the 10-building suburban office park for $315 million.
The transaction was arranged on the Ten-X auction platform.
The 75,000-square-foot property Includes 50,000 square feet of office space, warehouse and dock-high loading.