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ORLANDO-Progress Energy Florida has renewed the entire 108,499-square-foot Northpoint III office building in suburban Lake Mary, where the St. Petersburg-based utility has been a tenant for the past decade. Duke Realty Corp., the building’s owner, negotiated the lease renewal with the Tampa-based Duncan Cos.

Terms of the renewal were not disclosed. Asking rents at Northpoint’s buildings north of Orlando start at $20 per square foot.

“It was of utmost importance to continue our outstanding relationship with such a high-quality company,” says Doug Irmscher, senior vice president of Duke Realty’s Central Florida operations in Orlando. He adds that keeping Progress Energy Florida in place not only benefits Northport III but Lake Mary as well.

Progress Energy Florida is a division of Raleigh, NC-based Progress Energy Corp. It provides electricity and related services to 1.6 million customers stretching from the Gulf Coast to Central Florida.

Northport includes four class A office buildings totaling more than 444,400 square feet and developable land that can support two additional buildings totaling 280,000 square feet. Indianapolis, IN-based Duke Realty has more than four million square feet of office and industrial buildings in Central Florida, plus 160 acres available for sale or future development.

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