(Crystal Proenza is associate editor of Real Estate Florida.)

ORLANDO-Adacel Systems Inc. has signed a three-year lease to occupy a 56,000-square-foot office/warehouse at 5945 Hazeltine National Drive in the Lee Vista Business Center. The building, owned by locally based Lee Vista Inc., is within Orlando's Airport submarket. Lease terms include two one-year extensions and is valued at approximately $1.2 million, says NAI Realvest's Mary Frances West. The senior associate handled the transaction on behalf of the tenant, which had been subleasing the space from its previous owner, San Antonio-based Clark American.

"When Clark American downsized and closed its operation in Orlando, Adacel Systems entered into a direct lease with the owner," West tells GlobeSt.com. "They could have moved somewhere else, but ultimately this was the best place for them, and the most cost effective. New construction is $12 to $13 triple net in the submarket, and this was considerably less than that, making it a pretty simple decision."

Adacel Systems is an operational and simulation software developer servicing air traffic controllers and training worldwide. The Australian-based company is currently using about 33,000 square feet within the building as its US headquarters, and will expand into the rest of the space as it grows, says West. The building was originally constructed for Clark American by Opus South Corp. in 1994.