Search
 

Atlanta's Carter Teams With CNL on Office Park Expansion

ORLANDO-Legacy Place, a planned 46-acre, 400,000 property in east Orlando, houses the 200,000-sf operations sector of First Union National Bank at Rouse and Lake Underhill Roads. Carter will have an undisclosed equity stake in the project.

By Alex Finkelstein | Updated on October 29, 2002

ORLANDO-Two big names in Central Florida commercial real estate activities, Carter & Associates-ONCOR of Atlanta and locally based CNL Realty & Development Corp., have formed a joint venture to develop and expand the planned 400,000-sf, 46-acre Legacy Place in east Orlando.

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

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.