Simmons Vedder Signs PaySys to $9M Office Lease

ORLANDO-Simmons Vedder & Co. is wasting no time in filling up The Reserve at Maitland, a one-year-old, 196,000-sf office structure in suburban Maitland, FL. The property is at 91% occupancy following Monday’s signing of locally based PaySys International Inc. to a 10-year, 52,012-sf lease aggregately valued at $9.6 million.

The lease is the largest class A office transaction this year in metro Orlando. The quoted rent for the project is $13.50 per-sf, plus $5 per sf operating expenses. The tenant is moving from 900 Winderley Place, also in Maitland.

Matt Greer, leasing director for the 10-year-old Texas developer, and Mark Stratman in the new Orlando office of Dallas-based Staubach & Co. brokered the deal.