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ORLANDO-Orland Business Park, owner of the 2,900-acre, 15-year-old, International Corporate Park near Orlando International Airport, has selected CB Richard Ellis Inc. to lease up or sell dirt at the near-vacant asset in southeast Orlando. OBP bought the property last year and has been trying to market the park on its own.

CBRE industrial specialists David Murphy, William Tew and Kevin Hoover have the leasing and selling assignment. The park is zoned for 20 million sf of commercial/industrial.

Land at the park is selling for an average $2 per sf or about $87,120 per acre. The largest landowner in the park is Lockheed Martin Corp. with 200 undeveloped acres purchased in 1987.

Expected to close by year end is a contracted 37-acre deal for a 200,000-sf distribution center planned by Dallas distributor Sierra Stone Inc. The estimated contract price is $3.22 million or about $2 per sf.

The park’s broker of record, Sam Evans, is talking with four major users, one of whom may build a 300-acre telecom campus to service that industry’s players once the current slowdown in the telecommunications sectors turns up again.

Evans is also negotiating with several other prospective tenants for a total one million sf.

The Orlando Business Park partnership bought ICP in March of this year for $17.9 million cash. The price equates to $6,172 per acre or about 14 cents per sf. The partnership is a joint venture of Oakridge Investments Inc., Dallas; Excel Legacy Corp., San Diego; and David Roan, Austin, TX.

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