(Carl Cronan is editor of Real Estate Florida.)
ORLANDO-Locally based cable television channel Sun Sports is expanding its office and studio space by approximately 20% under an early lease renewal at Gateway Center. The five-year deal entails 12,876 square feet in the upper floors of the 17-story Downtown building.
Sun Sports, which originated in 1988 as Sunshine Network, has been a tenant in Gateway Center since 2003, when it opened new studios and began developing original programming aimed at Florida sports fans, along with carrying Fox Sports Net programs. The 2,850-square-foot expansion will be used as additional TV production space, says Greg Morrison, the building's leasing representative and principal of Morrison Commercial Real Estate in Orlando.
"They are an exciting tenant and we're glad that they are growing with us," Morrison tells GlobeSt.com. Terms of Sun Sports' new lease were not disclosed, but asking rents at the building are listed at $27.50 per square foot.
Located at 1000 Legion Place, near North Orange and Garland Avenues, the 228,000-square-foot Gateway Center opened in 1989 and is above 80% occupied. Jackson, MS-based Parkway Properties Inc. bought the building last year for $55 million, or $240 per square foot.
Orlando-based Grubb & Ellis/Commercial Florida represented Sun Sports in the lease negotiation. Andy McCaw, senior vice president, and Anne Deason, associate vice president, handled the deal.
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