Orlando Terrace bought the 60-year-old building from the U.S.General Services Administration in March for $1.94 million or anestimated $32.33 per sf based on the 60,000 sf Orlando Terraceactually owns.
The Post Office and the church will be joint owners of theproperty. The asset will not appear on the Orange County taxrolls.
Orlando Terrace and church officials couldn't be reached atGlobeSt.com's publication deadline to learn the asking price andterms of the deal. But church associates and area brokers intimatewith the transaction tell GlobeSt.com the church plans to acquireadditional Downtown property to build a central campus andconsolidate several offices located in nearby buildings.
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