MIAMI—Orlando Central, a landmark 637,380-square-foot, 21-building office park in Orlando, has traded hands. The sale price: $50.35 million.
Grover Corlew, a Pompano Beach-based investment management group, acquired the office asset. CBRE's Christian Lee, Ron Rogg, and Chip Wooten represented the seller, a fund managed by DRA Advisors.
“Orlando Central is currently 82% leased and therefore offers predictable cash flow with significant upside opportunity through the lease-up of 113,219 square feet of vacant space,” Lee, vice chairman of CBRE Capital Markets, tells GlobeSt.com. “With nearly 46 acres of developable land, this is the largest potential redevelopment site in Orlando; a great asset for investors.”
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