The park was built in phases between 1981 and 2000. Major tenants include Bax Global Logistics, Direct One Logistics, A and A Printing, Time Warner and American Contract Systems. Jeffrey Bardin, senior director of industrial services in the local office of Advantis Real Estate Services Co., negotiated for the seller.
"The owners and the project management and leasing teams made a concerted effort in the last eight years to stabilize, update and refurbish the park," Bardin says. "We realized an opportunity existed to maximize the value of these efforts by selling now and reaping the benefits of a strong market."
In an unrelated transaction, the Orlando office of Advantis represented seller RBL Associates of Philadelphia in the $3.5-million sale of the 950 Building at 950 South Winter Park Dr. in suburban Casselberry. The Dorchester Group LLC paid $83.74 for the 42,096-sf, class B office property in the Winter Park/Lee Road submarket. RBL developed the building in 1986.
In an Orlando area leasing transaction, Advantis represented owner Opus South Corp. in a six-year, 23,058-sf lease with ATI Research Inc. at University Corporate Center 1 in the Quadrangle Office Park in east Orange County. ATI renewed its 16,932-sf lease and expanded its space by another 6,126 sf. Cushman & Wakefield's Orlando office negotiated for ATI.
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