ORLANDO—A single-tenant office property leased to Kaplan University has traded hands. RT Ingenuity sold the 124,500-square-foot, two-story building to City Office REIT for $26.5 million. CBRE represented the seller.

“This sale affirms the institutional investors' willingness to place investment capital in one of Orlando's best suburban office parks, the Central Florida Research Park,” Ronald Rogg, an executive vice president of CBRE Capital Markets, Office & Industrial, tells GlobeSt.com. “Central Florida Research Park (CRFP) offers a combination of flexible office space, great amenities and convenient access to major transportation arteries.”

The office property features a 25-foot-high glass atrium, open spiral staircase, on-site modern cafeteria, and high technology infrastructure. The infrastructure includes uninterrupted and redundant power, FM-200 dry fire suppression, advanced security and fire protection, and CAT5 cabling throughout. The site also includes land for future development.

“Kaplan University considered 20 cities across the United States during its site selection process, but CFRP and the University/Research Park micro market stood out after comparing its ground breaking research partnership with UCF, access to a highly-educated workforce including college students, and the incredible prestige of this exclusive address,” Rogg says. CBRE's Chip Wooten worked with Rogg on the deal.

In 2008, Kaplan University signed a 13-year lease for the entire building and uses the property as a customer support center that has sales, marketing and customer service functions. The research park is near Orlando's central business district and the international airport, and offers access to State Roads 408 and 417, Highway 50 and the Florida Turnpike.