Flagler officials were confident Marriott would remain with them. "Flagler enjoys a strong partnership with Marriott Vacations," says Chip Lilley, senior vice president and regional development officer of Flagler Development. Lilley says the Marriott transaction marked "the last major lease scheduled to expire in 2005."
Damien Madsen, Flagler's senior leasing director, and leasing director John Guitar negotiated for Flagler. Marriott represented itself. "Marriott's commitment to 70,000 sf underlines the strength of the timeshare industry and the healthy office market in south Orlando," Madsen tells GlobeSt.com.
He adds, "While the Orlando office market [generally] has remained relatively soft, south Orlando and the tourism-related business environment has seemingly rebounded completely and is reflected in the reduction of vacancy for office space in south Orlando."
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