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WINTER PARK, FL-A local landmark for 14 years, the 14,133-sf 1211 North Orange Ave. Building is under new ownership today after being on the market for nine months. HVC Land Corp. paid 1211 Building Corp. approximately $2.4 million or $166.35 per sf for the 28%-leased property.

Buyer and seller are both from Atlanta Ronald J. Rogg, first vice president of CB Richard Ellis Inc.’s Central Florida Investment Properties Group, negotiated for the seller. The buyer represented itself.

Rogg tells GlobeSt.com the deal took 45 days to complete, from contract signing to closing. He doesn’t think the $166.63-per-sf price is on the high side. “Not for Winter Park real estate,” he says. The average asking base rent range at the property is $19 to $20 per sf, full service. The seller had owned the property for 10 years. Rogg says the building will improve its occupancy level shortly when a local law firm and a mix of other tenants complete leasing transactions.

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