Church Buying Part of Old Post Office Building

ORLANDO-After five months of unpublicized negotiations, the Catholic Diocese of Orlando is buying the remaining 60,000 sf of the historically-designated 76,000-sf Downtown U.S. Postal Service building from Orlando Terrace Inc. for an estimated $2.5 million or $41.67 per sf, area brokers intimate with the deal tell GlobeSt.com on condition of anonymity. The deal is expected to close by Nov. 1.

Orlando Terrace bought the 60-year-old building from the U.S. General Services Administration in March for $1.94 million or an estimated $32.33 per sf based on the 60,000 sf Orlando Terrace actually owns.

The Post Office and the church will be joint owners of the property. The asset will not appear on the Orange County tax rolls.