ORLANDO-Colonial Properties Trust of Birmingham, AL has brought its 155,000-sf Colonial Center 200 office building in suburban Lake Mary, FL to 85% occupancy with the signing of the Hartford to a 65,000-sf lease for an estimated 10 years at an estimated aggregate rent of $12.35 million. The average asking rent is $19.75 per sf.

A twin building, the 155,000-sf Colonial Center 100, is at 100% occupancy after two new users joined the tenant roll. Both buildings are within the 175-acre Colonial TownPark, just off Interstate 4 and County Road 46A. Colonial Properties has developed 500,000 sf of office space in the metro area with plans for another 500,000 sf over the next five years.

“Developments that integrate live, work and shop elements effectively are becoming increasingly more attractive to companies,” says Colonial senior vice president Tom Green. “It is a competitive advantage in recruiting and retaining workforces. High performance workplace environments integrate these elements, thereby enhancing more productive employees.”

Other new tenants at Colonial Center 200 are Brasfield & Gorrie, a general contracting firm also from Birmingham, leasing 24,800 sf; Robert Half International, leasing 3,500 sf; Renar Development Co., leasing 3,000 sf; and The Standard Register Co., leasing 3,000 sf.

At Colonial Center 100, CorVel Healthcare leased 4,200 sf and Universal Land Title leased 3,500 sf. Colonial wouldn’t disclose the length of the leases but brokers familiar with the project tell GlobeSt.com the leases were all in the three-year-to-five-year range.

Besides Colonial TownPark, Colonial Properties Trust owns 2,400 multifamily units at Colonial Grant at Heathrow, Colonial Grand at Hunter’s Creek and Colonial Grand at Cypress Crossings. The REIT owns and manages two million sf of retail in the city, including the Orlando Fashion Square Mall.

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