Duke-Weeks Breaking Ground in February on Second Office Asset at Disney Town

ORLANDO-Duke-Weeks Realty Corp. continues to grow its commercial portfolio in Central Florida with plans to break ground in February on a second office building in Celebration, FL, the new-town-styled community of 20,000 permanent residents Walt Disney World built four years ago at an investment cost of $2.5 billion.

The Indiana developer’s Celebration II will mirror Celebration I, a four-story, 80,344-sf property currently 75% leased at average full-service rents of $21 per sf. The site is 25 miles south of Downtown Orlando and five miles from Disney’s front door at Lake Buena Vista, FL. Tenants in Celebration I are Walt Disney Co., taking 41,083 sf and youknowbest.com, leasing 20,932 sf on an estimated five-year lease.