Colliers: Maitland Office Market Rebounding

ORLANDO—In a sign that the office market in Maitland, FL is starting to rebound after years of very little new activity in this Florida commercial real estate market, Colliers just inked back to back office leases at Maitland Concourse South office complex at 875 Concourse Parkway in Maitland. The leases total nearly 25,000 square feet.

Westcor Land Title Insurance Company is relocating to Maitland from Winter Park, FL. The company will take down 19,475 square feet in Maitland Concourse South. The class A Maitland Concourse South office complex is now 85% leased.

Colliers' Todd Davis, Jamie Barati, and Danny Rice represented the landlord, True North Management Group. Nan McCormick with CBRE represented the tenant in the transaction.

“The Maitland Center submarket took a big hit during the latest recession and has been slow to recover,” says Davis. “We're pleased to report that in the last 18 months, our team has renewed and signed new transactions totaling in excess of 100,000 square feet and we continue to aggressively pursue tenants in the Maitland market. We take it as a very positive sign.”

The Florida Bar Foundation also signed a lease at Maitland Concourse South, totaling 5,138 square feet. Davis, Barati and Rice represented the landlord, True North Management Group. Rick Solik of Cushman & Wakefield represented the tenant in the transaction.

“This office complex is attractive for professional services tenants because it's centrally located, has great access to Interstate 4, and is also within close proximity to mid-level and upscale residential areas,” says Davis. “The building has a very efficient floor layout to make the best use of its interior office space, and the complex has a nice, quiet, park-like setting.”