The lease is the largest class A office transaction this year in metro Orlando. The quoted rent for the project is $13.50 per-sf, plus $5 per sf operating expenses. The tenant is moving from 900 Winderley Place, also in Maitland.
Matt Greer, leasing director for the 10-year-old Texas developer, and Mark Stratman in the new Orlando office of Dallas-based Staubach & Co. brokered the deal.
Simmons Vedder follows a strategy of leasing single-story, campus-like office complexes to Fortune 500 companies, Greer tells GlobeSt.com. In March 2001, the developer signed CNA Insurance to a 10-year, 67,000-sf lease aggregately valued at $12 million. Since then, CNA has expanded, taking the entire 82,260 sf in Building No. 3.
Other tenants at the three-building Reserve are Countrywide Homes Loans Inc., 30,000 sf and Earth Tech Inc., a Tyco subsidiary, 21,000 sf.
PaySys is a subsidiary of Atlanta -based First Data Corp., a global leader in the credit-card issuing business. PaySys is an international financial software manufacturer with 350 employes and worldwide offices in Beijing, China; Victoria, Australia, Sao Paulo, Brazil; San Jose, Costa Rica; and Dublin, Ireland.
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