ORLANDO—BBVA Compass Bank is getting in on the Florida bank expansion action. In the midst of a flurry of bank lease activity in South Florida, the Birmingham-based financial institution just inked a lease in Central Florida.
CBRE arranged a 13,257-square-foot lease for office space in the One Eleven building located at 111 North Magnolia in Orlando's Downtown Business District. BBVA also secured top of the building signage.
Mike Phipps, senior vice president at CBRE who represented the bank, says the lease is “a testament to the fantastic location and amenities in Downtown Orlando.” One Eleven is a 437,000 square foot, mixed-use project in downtown Orlando. The building includes retail, office and residential with views of the skyline and Lake Eola.
BBVA has posted significant client and employee growth during the past year, which is driving an extensive expansion at its downtown location. With the new lease, BBVA is taking down an additional 8,871 square feet of space in the same building. The office space will serve the bank's Commercial and Wealth Management division.
Robert Fetters of CBRE Global Corporate Services in Birmingham, AL assisted Phipps on the deal. Lincoln Property Company represented the landlord.
Bank properties—and parcels where banks plan to expand—are hot items in South Florida. Click here to read more about recent deals.
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