Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Crystal Proenza is associate editor of Real Estate Florida.)

ORLANDO-Adacel Systems Inc. has signed a three-year lease to occupy a 56,000-square-foot office/warehouse at 5945 Hazeltine National Drive in the Lee Vista Business Center. The building, owned by locally based Lee Vista Inc., is within Orlando’s Airport submarket. Lease terms include two one-year extensions and is valued at approximately $1.2 million, says NAI Realvest’s Mary Frances West. The senior associate handled the transaction on behalf of the tenant, which had been subleasing the space from its previous owner, San Antonio-based Clark American.

“When Clark American downsized and closed its operation in Orlando, Adacel Systems entered into a direct lease with the owner,” West tells GlobeSt.com. “They could have moved somewhere else, but ultimately this was the best place for them, and the most cost effective. New construction is $12 to $13 triple net in the submarket, and this was considerably less than that, making it a pretty simple decision.”

Adacel Systems is an operational and simulation software developer servicing air traffic controllers and training worldwide. The Australian-based company is currently using about 33,000 square feet within the building as its US headquarters, and will expand into the rest of the space as it grows, says West. The building was originally constructed for Clark American by Opus South Corp. in 1994.

The tenant has grown over the past few years, previously leasing 12,700 square feet elsewhere within the Lee Vista Business Center, West reveals. Since the company was awarded the US Air Force tower simulation contract in 2002, it has expanded considerably in order to supply systems to educational facilities, the FAA, NASA, Army, Navy and Marines. In December, the firm was chosen to supply simulation systems for Broward College’s air traffic control training program in Miramar.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.