Lexmark International Inc., a Lexington, KY-based computer printer distributor, plans to close its 50,000-sf, two-year-old call center in April at GranPark at South Park in south Orlando. About 400 jobs will be lost in the company's cost-cutting move.
In a corporate consolidation move, Uniprise, a five-year-old unit of Minnetonka, MN-based UnitedHealth Group Inc., is vacating its 54,000 sf in three phases at 255 Technology Park in suburban Lake Mary, FL, starting in May. An estimated 220 jobs will be eliminated.
The empty space is expected to jump the vacancy level among the 150-building office/flex/warehouse market above the 17% mark, making it one of the steepest occupancy dips in the past decade. Rebman Properties Inc. of suburban Maitland, FL, which has been tracking this market segment for the past 15 years, puts the existing vacancy mark at 16.72%, an improvement from the third-quarter 17.43% level.
Free rent and generous interior improvement allowances have not made much of a dent in the leasing picture, area industrial brokers tell GlobeSt.com. "Tenants are aggressively renegotiating their lease renewals, even beyond their expiration dates, in order to get the best deals from their landlords," Paul A. Whiting, owner of Creative Office Environments in suburban Altamonte Springs, FL, tells GlobeSt.com.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.