(Carl Cronan is editor of RealEstate Florida.)

ORLANDO-The Pizzuti Cos. is making a contrarian development playwithin the city's central business district, starting work on a new150,000-square-foot class A office building at 777 N. Orange Ave.The Columbus, OH-based developer expects to open the 11-storystructure in early 2011, during the anticipated economicrecovery.

Additional details remain vague on the project, which has been ayear in the making since Pizzuti began buying up parcels for its2.5-acre tract at the southeast corner of North Orange Avenue andPark Lake Street, where it plans two future phases. The firstbuilding's cost will be determined at a later date, with askingrents expected to be above the $25-per-square-foot average forOrlando office space.

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