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Landmark Downtown Post Office Building Sold

ORLANDO-Developer plans office condos for the 59-year-old asset with a special deal for the mailman.

By Alex Finkelstein | Updated on July 30, 2000

Maverick developer Cameron Kuhn is going first class on a 59-year-old Downtown Orlando U.S. Postal Service building that most industry watchers felt might be headed for oblivion. Kuhn outbid a half dozen rivals for the four-story, 66,000-sf structure that he plans to convert into office condos and retail within 10 months.

The Post Office anticipates owning about 15,000 sf for its daily operations. Kuhn will own the balance of the building listed as a historic landmark by the city in 1989. The Chicago-born Kuhn, who has invested $20 million so far on eight downtown fixer-upper, revenue-producing properties, has 30 days to complete his due diligence on the contract. Closing is set for early first quarter 2001. Terms and price are still being negotiated but construction industry sources tell GlobeSt.com a comparable 66,000-sf, class A asset couldn’t be erected today for less than $9.9 million or $150 per sf.

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