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MAITLAND, FL-Patriot Mortgage Co. of Orlando has closed on a $2-million, five-year sublease deal for 25,515 sf of class A space formerly occupied by Charles Schwab & Co. The lease brings the occupancy level to 98.6% at the 23-year-old, 205,726-sf Maitland 200 building at 2301 Maitland Center Parkway, seven miles north of Downtown Orlando.

Schwab is consolidating several offices at another metro Orlando location. Jamie Barati, a senior associate and office specialist in the Orlando office of Colliers Arnold, negotiated for Patriot. Kathy Lesiuk of Strictly Commercial represented Schwab.

Asking full-service rent at the building is $19.50 per sf. Based on the total $2-million value of the deal, however, Patriot is paying about $15.67 per sf. “Keep in mind that this was a sublease,” Barati tells GlobeSt.com. The transaction took four months to complete, from contract signing to closing.

Australia-based Rubicon America Trust and Parkway Properties Inc. of Jackson, MS co-own Maitland 200. Rubicon owns 80%; Parkway, 20%. The Australian group paid Parkway $28.4 million, or $137.86 per sf, for majority ownership, as GlobeSt.com reported June 22. The building was 96.5% leased at that time.

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