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ORLANDO-Carolstan Properties of Winter Park, FL has decided to focus on development and acquisition instead of leasing and managing its six industrial flex buildings totaling 240,000 sf in east Orlando and Downtown.

The developer has contracted with the Orlando office of Atlanta-based Advantis Real Estate Services Co. to handle the chores and improve the 71% occupancy level of the properties, Advantis says in a prepared statement.

Advantis’ fee structure wasn’t disclosed. In some markets, the negotiated fee can run from ½% to 4% of the total rent roll or value of the asset, area brokers tell GlobeSt.com on condition of anonymity.

Senior Advantis brokers Tom McFadden and William “Bo” Bradford will handle the leasing end. Beverly McNeill will manage the properties. She also manages a total 900,000 sf for the Clayton cousins of Orlando, Sugar Oak Corp. of Herndon, VA and McDonald Development Co. of Atlanta.

Two of the buildings are near Semoran Boulevard (State Road 436) and University Boulevard in east Orlando. The other four structures are Downtown. Existing tenants are renting space blocks from 1,000 sf to 30,000 sf. At Carolston’s headquarters building, 6450 University Blvd., 20,000 sf of contiguous space is vacant.

Quoted average rents in the University submarket for industrial flex product is $4 per sf to $12 per sf, area brokers tell GlobeSt.com on condition of anonymity.

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