Mayer Electric's 37,137-SF Lease Brings J.B. Carrie Building to 90% Occupancy

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ORLANDO-J.B. Carrie Properties is nearing the 100% occupancy level at its 101,152-sf industrial building at 4161 N. John Young Parkway in south Orlando. Birmingham, AL-based Mayer Electric Supply has signed a 37,137-sf lease, bringing the building’s occupancy to about 90%.

GVA Advantis brokers Tom McFadden and William Bradford negotiated for the landlord. The tenant represented itself. McFadden and Bradford declined to disclose the length and value of the lease. However, area brokers familiar with the John Young Parkway submarket tell GlobeSt.com the lease was probably for five years at an effective rent of $4.50 per sf. That would make the estimated aggregate value of the transaction $8.36 million, according to area brokers not associated with the deal.

Average asking gross rent at the building is $4.50 to $5.50 per sf, triple net. The Mayer Electric lease closing follows the closing of a total 120,014 sf that McFadden, Bradford and Advantis broker Mindy Boehm recently completed at the Airport Distribution Center.

Bradford, a former Duke Realty Corp. vice president of leasing, has been named a senior director in the Orlando office of GVA Advantis. Robert Kellogg, a GVA professional four years, moves up to associate director status.