Semoran CommerCenter Inks Double Duty Deal

ORLANDO-Semoran CommerCenter at Orlando International Airport has inked a 43,445-square-foot lease. ADT Security Services and Simplex Grinnell, two wholly-owned subsidiaries of Tyco International, singed a 10-year deal to jointly occupy the flex space at 6830 Shadowridge Dr.

Bavar Properties Group is co-developing the 190,100-square-foot class A office/flex project with NAI Realvest of Maitland. The shell construction completed. The $1.5 million total tenant fit-out is underway and scheduled for April completion. Ray Romano, a vice president at CB Richard Ellis, represented ADT/Simplex Grinnell. Robert Blackwell, a principal with NAI Realvest, represented the development team.

“The target market for this property is very close to the type of use that ADT needs in this location,” Blackwell tells GlobeSt.com. “This building is a true flex property that allows for a mix of larger office space square footage, high parking ratio and industrial use in a class A building close to amenities such as restaurants and hotels.”

Both ADT and Simplex Grinnell companies will relocate from separate facilities in the Metro Orlando area to the Semoran CommerCenter prototype space. The new space lets the companies share a reception area, conference rooms and break rooms, while operating separate office and warehouse areas.

Blackwell says the deal marks one of the largest flex/industrial leases in the metro Orlando market in recent months. “The industrial market has seen vacancy rates well over 10 percent,” he says. “Since the beginning of 2011, it has experienced a higher level of activity than we’ve seen in several years.”

Located half a mile north of Orlando International Airport and 15 minutes from downtown Orlando, the 18-acre Semoran CommerCenter is adjacent to numerous restaurant, retail, residential, and hotel amenities. When finished, the complex will offer four buildings. Currently, two have been constructed. Building A is a 58,219-square-foot dock high office/warehouse facility. Building B is the 61,317-square-foot, one-story flex office/warehouse building, which ADT/Simplex Grinnell will occupy.

The first two tenants in the project are Paychex, with 20,000 square feet of space in Building A. The Florida Fish & Wildlife, which operates a 5,600 square-foot satellite office in Building B for its Division of Habitat and Species Conservation.