Flagler Development Co. of Jacksonville, FL, the park's owner, and CHEP officials couldn't be reached at GlobeSt.com's publication deadline to learn the value of the lease in Building 200. But brokers intimate with the south Orlando submarket tell GlobeSt.com on condition of anonymity the quoted average rent is $23 per sf, making the estimated aggregate value of the CHEP lease $50 million.
The lease is the largest to date in metro Orlando. CHEP was leasing 61,000 sf in Building 200 but decided to take another 83,000 sf and the entire building as it grows its local workforce of 475.
CHEP moved its headquarters to Orlando from Park Ridge, NJ in 1996. Brambles Industries Ltd. of Sydney and Brambles Industries PLC of London jointly own CHEP.
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