Lincoln Property Company Southeast (Lincoln) has brokered two office investment sales in metro Orlando. All told, the transactions involved four buildings totaling more than 182,000 square feet; the combined sales price of the deals was $8.7 million. Joe Rossi, senior vice president of investment services for Lincoln, represented the seller in both transactions.
The details of the transactions are as follows:
• UP Fieldgate US Investments-Fashion Square LLC purchased Corporate Park I and II, two buildings in Orlando totaling 86,980 square feet, from RGA Real Estate Holdings for $4.75 million. Scott Corbin of Colliers International represented the buyer.
Corporate Park I and II, located at 3670 and 3660 Maguire Blvd., respectively, each feature three stories. The buildings are near downtown Orlando, Baldwin Park and Winter Park.
• Vista Premier Point LLC purchased Premier Point North and South, two buildings totaling 95,277 square feet in the suburb of Altamonte Springs, for $3.95 million from RGA Reinsurance Co. Rossi was the only broker involved in the transaction.
Premier Point North and South, located at 225 and 237 South Westmonte Dr., respectively, are near Interstate 4, Florida Hospital and Altamonte Mall.
“We saw the Orlando market office market improve throughout 2013,” said Scott Stahley, senior vice president for Lincoln who oversees the firm’s Orlando office. “As investors begin to chase higher yields, we expect to see this result in greater investor interest in Orlando office properties in the coming year. The transaction pace should be brisk.”