Central Corporate Center Office Park And Data Center Trades For $15 Million

Regency Commercial Properties, Inc. closed the $15.1 million sale of Central Corporate Center, a five-building office park of 318,516 square feet on 21.7 acres at 5915-6035 South Rio Grande Ave, located in the Central Park area of Orlando, just north of The Florida Mall, centered between Orlando’s Central Business District, Orlando International Airport and Disney World.

The buyer is Central Corporate Center Acquisitions Group, LLC. Its managers include Marc Osheroff and Robert Palacios. Synovus Bank provided financing in the transaction.

Robert Palacios, President of Miami-based Regency Commercial Properties, Inc. represented the buyer in the acquisition. The transaction was arranged on the Ten-X auction platform. The seller, Fort Lauderdale-based 110 Grove, LLC, was represented by Nathan Eissler and Lisa Bailey of Avison Young’s Orlando office and David Duckworth, Michael Fay, John Crotty, Brian de la Fé, and Berkley Bloodworth of Avison Young’s Miami office.

The main office building at 6021 S. Rio Grande Avenue has approximately 189,276 square feet of rentable area on seven floors. Originally built for defense contractor Lockheed Martin Corp., it also subsequently served AT&T’s web hosting group. The building has a 5:1 onsite parking ratio and full power redundancy.

The balance of approximately 129,240 square feet is spread over four one-story buildings including a 51,240 square-foot data center with six emergency power back-up generators with over four megawatts of power capacity, ideally suited for data and cryptocurrency mining operations. The buyer plans to make infrastructure upgrades and capital improvements to reposition the property and attract corporate tenants.