New York-based Lend Lease Real Estate Investments Inc., owner of the 15-year-old, 90.6%-leased property, picked Crow over Cushman & Wakefield of Florida Inc., CB Richard Ellis Inc. and Grubb & Ellis Co. Lend Lease purchased the asset from Duke Realty Corp. in early 2001 for $19.5 million or $61.05 per sf. Duke had leased and managed the property itself.

The property, near the intersection of Sand Lake Road and Orange Blossom Trail, is considered one of the top industrial/flex parks in metro Orlando. Key tenants are DHL Worldwide, Federal Express, UPS and Daimler Chrysler. Quoted asking rental rates are $6.25 per sf to $7.25 per sf, triple net.

Gregg Ickes, a Crow industrial associate, heads the leasing team. Paul B. Strader and Nancy Goldenberg, Crow's vice presidents/property management; associate John McRae and Ickes negotiated the contract with Lend Lease.

In a separate transaction, John M. Crossman, senior vice president/retail services, negotiated a $2.3 million purchase of the 15,000-sf, 15-year-old Altamonte Festival strip center for Watch Omega Holdings Inc., an affiliate of Stamford, CT-based GE Capital Real Estate. The seller was GE Capital Realty Services.

The $153.33 per-sf price is among the highest in 2001 transactions and the highest in 2002 to date, according to GlobeSt.com research.

The 100% leased center, opposite Florida Hospital, has been running at 95% occupancy since 1993. Tenants include Pearle Vision, Simply Wireless and Pizza Hut.