ORLANDO—Avnet, a global distributors of electronic components, computer products and embedded technology, just leased a 17,333-square-foot class A office space in the Central Florida Research Park. The company will maintain its 11,904-square-foot space at the park until the build-out is completed.

Central Florida Research Park is located at 12001 Research Parkway in Orlando. Avnet's space, which is located in Research Square Three, will be built out to serve as the organization's showcase office location. 

Robert Kellogg, Todd Davis, and Colin Morrison of Colliers International Central Florida represented Avnet. Gap Resource Square Three Owner, doing business as Banyan Street Capital, is the landlord.

"This is a great example of the 'flight to quality' taking place in our market, with tenants seeking to take advantage of today's market conditions in light of rising rental rates and decreasing tenant concessions across Orlando," Kellogg, managing Director of Office Services for Colliers, tells GlobeSt.com. "As the market begins to shift from a tenant's market to a landlord's market, many tenants are seeking to take advantage of reasonable rates now to avoid paying significantly higher rates for quality product in the near future."

Located next to the University of Central Florida, the Central Florida Research Park is a 1,027-acre campus-like office park with more than 59 office buildings, 126 tenants, and 10,000 employees. It is the largest research park in the state of Florida and the fourth largest in the nation, based on number of tenants. Boeing, Siemens, Aon Hewitt, Cisco Systems and a number of other organizations specializing in defense contracting, simulation and training, and engineering are among the park's tenants.

"This location is going to house our Center of Excellence, Sales Operation Southeast region, an important location for our business in our real estate portfolio," said Bob Gracz, vice president and director of Corporate Real Estate and Facilities for Avnet. "We are excited to finalize the site location and anticipate move in around May in the new calendar year."