The price is the highest per-sf transaction completed in Central Florida in the last 15 years, according to GlobeSt.com research. The deal surpasses the $170.70 per sf tag ($109.25 million) Chicago entrepreneur Sam Zell paid for the Downtown 35-story, 640,000-sf SunTrust Tower in 1996.
Ireland purchased the Sprint asset from Maitland, FL-based Maitland Springs Inc. and developer Mike Fess of Orlando-based Equity Partners Inc. The deal closed Feb. 20.
Sprint has a 10-year lease at a rent below the class A Maitland market average of $22 per sf, according to area brokers familiar with the property. Sprint also put $9 million of its own money into the one-story building, including fiber optics installations, when it opened in July 2001.
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