TITUSVILLE-Boeing Realty Co., a division of the Boeing Co., is making use of excess space in the aircraft manufacturer’s 80,000-sf regional office building in Titusville, FL, 30 miles southeast of Downtown Orlando.

Working with the Orlando office of Trammell Crow Co., Boeing has signed its first tenant to a three-year lease with a renewal option at the four story, 12-year-old 100 Boeing Way building.

Parrish Medical Center’s Home Health Care division is taking 4,900 sf for an estimated aggregate rent of $425,000. Average full-service asking rents are $16 to $18 per sf. The space will complement the new $90 million hospital Parrish recently opened nearby.

The lease brings the building to 45% occupancy. Boeing occupies 30,000 sf. Jason F. Schrago, a senior vice president in Crow’s Orlando office, handled the transaction. He tells GlobeSt.com he is working on about 20,000 sf of prospects for the building.

“It’s a great office location for companies in electronics, telecommunications, bio-medical, aerospace and other defense-related industries,” Schrago says. The property is a half mile south of the the U.S. 1 and State Road 405 intersection.

“Parrish was attracted to the Boeing property largely because the space offered a plug-and-play environment, complete with work stations and equipment in place and wired for connectivity,” Schrago tells GlobeSt.com.

Brevard County, a haven for defense-related businesses where the Boeing property is located, has only 1.27 million sf of class A product, according to March 2002 research by Tuttle-Armfield-Wagner Appraisal & Research of Melbourne, FL.

The county’s class A vacancy level in March was 18% compared to 9% in the same 2001 period.

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