Air Traffic Simulation Company Takes 56,000 SF

(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.”