Quadrangle 3850 is expected to cost approximately $8 million to build, according to Gregg Metcalf, vice president of national development at the Alter Group. The Atlanta-based developer is eyeing a November delivery, he adds.
The park is within the Quadrangle Corporate Park, a 263-acre business and commercial development approximately 15 miles from Orlando International Airport. The new spec project joins three other buildings Alter completed at Quadrangle. The firm also developed two single-story spec office buildings and an approximately 450,000-sf, two-phase build-to-suit for Siemens Westinghouse Power Corp., which serves as the corporation's headquarters.
The two office buildings are the 30,000-sf 3636 Quadrangle Blvd., with a tenant roster that includes Rinker, Best Buy and Cape Canaveral, and the 52,125-sf 3500 Quadrangle Blvd., with Siemens as the tenant, according to Metcalf.
"This Orlando submarket is an especially strong location because it is part of the high-tech corridor adjacent to the University of Central Florida," Todd M. Yates, senior vice president of national development for the Alter Group, says in a statement. He adds that Concourse at Quadrangle is designed to accommodate five buildings, with a total of approximately 250,000 sf of spec and build-to-suit space. Quadrangle 3850 is the second of the five buildings in this phase, Metcalf adds.
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