ORLANDO-Papilla Design Inc. is making a relocation that is expected to pay off in both increased production and higher future real estate values. The locally based manufacturer of furniture accessories paid $1.2 million, or $20 per sf, for a vacant 60,000-sf office and plant at 701 Landstreet Rd.

Area brokers tell GlobeSt.com the $20-per-sf-price is below replacement cost of a comparable structure. The building is in the Airport/Southeast industrial submarket. Papilla Design is moving from its owned 20,000-sf building at 5505 Carder Rd. in west Orlando’s Silver Star Road corridor. The Landstreet property was built in the 1980s; the Carder Road building in the early 1970s.

Bo Bradford and Tom McFadden, senior directors in the industrial services group of Advantis/GVA, negotiated for Papilla Design as they did in 2000 when Papilla bought the Carder Road property. Matt Bates of Grubb & Ellis Co., Orlando, represented the seller, 880 W. Roslyn Road Inc. of Fort Lauderdale, FL.

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