KEL, previously based in suburban Altamonte Springs, plans to put its logo on the north and south sides of the 32-story tower at 111 N. Magnolia Ave. in Downtown Orlando, says Matt Harrison, the firm's vice president of public relations. It will occupy the building's 15th floor over the next three years with an option to lease additional space on the floor below, he says.
"Being downtown and close to the courts just shows that we are key players in the game," Harrison tells GlobeSt.com. "It makes sense for us to be here as the firm continues to grow."
Additional terms of the lease were not disclosed by KEL or the building's owner/developer, Dallas-based Lincoln Property Co. Asking rents at the building, which opened less than two years ago, range from $26 to $30 per square foot.
Dynetech Corp. vacated the space now being occupied by KEL late last year after its parent company, Orlando-based Telligenix Corp., filed for Chapter 11 bankruptcy protection in October under more than $50 million in debt. Telligenix plans to file a reorganization plan later this month, while Dynetech has moved to smaller offices in suburban Maitland.
Overlooking Lake Eola, 111 N. Magnolia Ave. was a key addition to the Orlando skyline during the city's urban condominium construction boom. The building's 150,000-square-foot office segment is joined by 160 upper-floor apartments, a 600-space parking garage and ground-level retail space.
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