Travel Express Leases 25,500 SF in Longwood

LONGWOOD, FL-It was the sort of deal most office tenant representatives dread–thorny local governmental regulations and a property owner often difficult to reach.

But Shipley Hall, an associate in the Orlando office of Advantis Real Estate Services Co./GVA Worldwide, overcame the bureaucratic hurdles and got his client, Travel Express Investments, a five-year, 25,500-sf lease at an aggregate rent of $1.3 million in a 20-year-old, 76,500-sf building at 587 E. State Road 434 in this Orlando suburb.

The deal took three months to complete, from canvassing the market for space to closing, Hall tells GlobeSt.com. There were several challenges he and brokers negotiating for owner Capital Investments & Holdings LP of Hollywood, FL had to face before closing the deal. “The building itself had a few issues that needed to be overcome” before the tenant would sign the lease, Hall says. “The property needed to be brought up to code and the City of Longwood had stringent demands and requirements for any and structural or exterior work.”