New-to-Market Foundry Driving Fast Business

Justin Ruby, a senior vice president at Foundry

ORLANDO— Foundry Commercial , a new-to-market commercial real estate firm, is making fast headway in Orlando market. In case you missed it, CNL Commercial Real Estate rebranded itself as Foundry Commercial . The rebranding comes after the company announced a spinoff from CNL Financial Group , its parent company, last September. Real Capital Solutions just tapped the firm to lease Technology Park, a class A, 297,582-square-foot, single-story “flex” business park in the Orlando suburb of Lake Mary, FL. Warehouse, distribution and office space are part of the asset. Real Capital Solutions, a Colorado-based real estate company that focuses on acquisitions, development and management for highly complex structured real estate opportunities, purchased Technology Park for $21.3 million. The firm plans to invest significant capital to improve the occupancy rate, along with broker incentives. “Technology Park is one of the best employee-served business flex parks in Seminole County, given its ease of access and proximity to retail,” Justin Ruby , a senior vice president at Foundry, tells GlobeSt.com. “These class A buildings serve high-tech, pharmaceutical and many established businesses.” Technology Park is the fourth single-story flex business park Real Capital Solutions has acquired in in Central Florida. The company purchased North Lake Business Park in Altamonte Springs, Heritage Business Centre in Longwood and the Airport Business Center in Orlando. “This is a value add acquisition in a sub-market with strong trend lines for absorption, rent growth and business activity,” Ruby says. “Lake Mary has a talented workforce with great schools, and has become a business-centric suburb. New clients and recent relocations anecdotally prove that Lake Mary is where business want to be in Central Florida.” Foundry is developing Crews Commerce Center , a $50 million class A industrial park in South Orlando. The 739,410-square-foot park will offer six industrial buildings developed in two stages. In May, Andretti Indoor Karting & Games (AIKG) Foundry Commercial  to help execute its goals. Foundry will serve as Andretti’s project management and owner representation partner for its new Orlando location. Central Florida CRE remains strong with Multifamily, Retail and Industrial leading the way. Are You In The Know? How can you profit? Join us at RealShare Central Florida on September 7th for impactful information from the leaders in Central Florida CRE.Learn more.