Wachovia Renews 78,000 Square Feet

ORLANDO-The bank stays put in the class A One Orlando Centre office building with help from early renewal negotiations.

By Amy Wolff Sorter | Updated on November 04, 2009

ORLANDO-Wachovia Bank NA, a Wells Fargo company, has opted to renew its 77,600-square-foot lease at the class A, One Orlando Centre office building. Wachovia has signed a five-year lease for the space.

According to a press release detailing the transaction, the lease for the space at 800 N. Magnolia Ave. was set to expire in two years. “Their early renewal decision is an indicator of the market’s positive view of this property and we look forward to our continued long-term relationship,” stated Jim Gray, a principal of Eola Capital, who represented the building’s ownership in the negotiation. Representatives from Eola Capital did not return a phone call by deadline.

One Orlando Centre was built in 1988 and is 89% leased. Eola acquired the 355,000-square-foot office building in 2007 for just over $90 million.

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