The 3.82-acre site is located adjacent to the University of Central Florida.
The 38,537-square-foot portfolio was 88.2% leased with a weighted average lease term of over 5.5 years.
The shell buildings sold for approximately $127 per square foot.
Cushman & Wakefield’s Equity, Debt and Structured Finance team secured $102 million in acquisition financing through PIMCO on behalf of the buyers.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, ESO Equity Group, in the transaction.
Banyan Street Capital, a Miami-based private equity firm focused on acquiring and operating office properties, purchased the property in a joint venture with a fund managed by DRA Advisors.
The Magic will initially take over a full floor at the CNL Center II, with the option to expand into a total of 36,727 square feet of office space on two floors within the building.
Mike Davis, Rick Brugge, Stewart Calhoun, Rick Colon, Casey Masters, Dominic Montazemi and Zachary Eicholtz of Cushman & Wakefield represented the seller, Atlanta-based Ackerman & Co., in the transaction.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the sellers in the transaction.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, Axiom Realty Partners LLC in the transaction. Denny St. Romain, Charles Crapse and Alex Kupp of Cushman & Wakefield represented the buyer.
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