Harbor Group Buys Highwoods' Office Park for $22M

ORLANDO-Harbor Group International of Norfolk, VA has picked up its sixth major acquisition of the year in the purchase of the five-building, 95%-leased, 315,515-sf Oakridge Office Park within the 4,000-acre Orlando Central Park enclave at Oakridge Road and Rio Grande Avenue in south Orlando.

The Virginia investor, through its Oakridge Financial Associates LLC affiliate, paid Raleigh, NC-based Highwood Properties Inc. $22.18 million or about $70.28 per sf for the 21.7-acre property anchored by AT&T in a seven-story, 186,275-sf building.

Other Oakridge Park tenants are Florida Southern University, Stenotype Institute of Jacksonville, FL, and Broadwing Inc. The five buildings were constructed between 1966 and 1983.