ORLANDO-AOI Medical has inked a lease for 10,220 square feet of office and lab space in the University Corporate Center in Winter Park. AOI Medical is a startup medical device company that recently raised $2.92 million from angel investors.
Joe Abascal, an associate in Cushman & Wakefield, represented the AOI Medical in a long-term deal. Grubb & Ellis represented University Corporate Center. AOI Medical develops orthopedic medical devices for the spine and trauma markets, including the Ascendx system to treat vertebral compression fractures.
“AOI Medical moved from the Central Florida Research Park,” Abascal tells GlobeSt.com. “Their investors felt they could reduce costs in certain areas and real estate was one of them. Ultimately, it was more affordable for AOI Medical to move into this building than to stay in the research park.”
The University Corporate Center is a single-story, multi-tenant flex-office complex with seven buildings. AOI Medical didn’t have too move far. The complex is close to the Central Florida Research park with frontage on University Boulevard and access to the East-West Expressway and Central Florida Greenway.
“AOI Medical needed some extra space to grow,” Abascal says. “The company is in one of the last stages of approval in Europe and is on track for FDA approval in the U.S. The new facility offers lab space to develop the product as well as office space.”
The medical office market in Orlando is heating up. Tower Realty Partners negotiated a 10-year, 65,044-square-foot lease renewal with the General Services Administration (GSA) at the Research Commons Building in Orlando’s Central Florida Research Park last week. The aggregate gross lease value totaled nearly $19 million, making it one of the largest leases in recent history in Orlando.
Tiffany Zullo of Tower Realty Partners represented the landlord, a joint venture between DRA Advisors and Tower Realty Partners Contracting Officer Jamie Thompson, of the General Service Administration, represented the tenant.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
