Colonial and Mitsubishi officials declined to disclose lease terms but brokers familiar with the Lake Mary, FL submarket say the lease is for at least 10 years at an estimated value of $6 million.
Those terms would dovetail with the Bank of New York's 52,000-sf lease for its BNY Investment Management Services division in March at the same 155,000-sf, 75%-leased Colonial Center 100 building nearing completion in the 175-acre Colonial Town Park.
The bank's 10 year lease has an estimated aggregate value of $10.4 million, brokers familiar with that deal tell GlobeSt.com.
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