X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.