ORLANDO-Orlando’s office market may be bouncing along the bottom, but some submarkets are beginning to show signs of life. Grubb & Ellis just inked two office deals in separate Orlando submarkets that could represent a trend in the making.
Anne Deason Spencer, vice president of the Office Services Group at Grubb & Ellis, negotiated long-term leases in the Airport and Millenia submarkets that signal the days of free rent may be coming to an end. Spencer represented the Devereaux Foundation in a 17,529-square foot lease in the Airport submarket and Currency Exchange in a 3,944-square foot lease in the Millenia submarket.
The Devereaux Foundation, which provides services to children with health or developmental disabilities, renewed its lease at Citadel One. Although financial terms of the deal were undisclosed, Spencer tells GlobeSt.com that she negotiated a “significant rate reduction.”
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