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CBRE Realty Trust Buys Kaplan Building

ORLANDO-The $25-million deal fits into the firm's high-grade property investments.

By Carl Cronan | Updated on August 13, 2009

ORLANDO-CB Richard Ellis Realty Trust has purchased a 124,500-square-foot class A office building at Central Florida Research Park that is fully leased to Kaplan Inc. The price was nearly $25.4 million, or $204 per square foot.

Kaplan’s higher education division, known as Kaplan University, signed a long-term lease at 12650 Ingenuity Drive last November with plans to hire up to 750 local residents over the next four years for its online student support center. The two-story building opened in 1999 at the 1,000-acre business park, a cooperative between the University of Central Florida and Orange County aimed at attracting research and development tenants.

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