The 226,000-sf building, fully occupied by the Orlando-based division of Siemens AG of Munich, has been purchased by Falcon Real Estate Investment Co. of New York which paid $35.76 million or $158 per sf for the one-year-old property at the Quadrangle Office Park in east Orange County.
Chicago-based Alter Group developed the building for $40 million or $177 per sf. Alter had planned a three-building, 525,000-sf office park at the site near the University of Central Florida campus.
Falcon's acquired asset is adjacent to Siemens' existing 250,000-sf headquarters building and another 225,000-sf building.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
