Carter will have an undisclosed equity stake in the project and be responsible for finding anchor tenants and owners for two additional build-to-suit structures on the property at Rouse and Lake Underhill Roads.

East Orlando is the strongest of 24 submarkets monitored by ColliersArnold Real Estate Services Inc. in the third quarter. The University/Research Park sector particularly leads the way with a vacancy factor of only 3.8%, compared to an overall Orlando vacancy level of 14.7%. University/Research Park's quoted average rents are $15.48 per sf

For Carter, its link with CNL is an extension of a formal alliance made earlier in the year. CNL gave Carter exclusive management and leasing contracts for its Downtown national headquarters site, the 350,000-sf CNL Center at City Commons, and the 71,000-sf 455 South Orange Avenue office building.