Lincoln Property Company Southeast Brokers 16,824-Square-Foot Lease at Northlake Business Center in Metro Orlando
Robert Kellogg, vice president of office leasing for Lincoln, and Sean DuPree, director of sales and leasing for the firm, represented the landlord, Garrison Investment Group, in the transaction. Lara Sieder and Jimmy Garvey of CLW Real Estate Services, soon to be Cassidy Turley, represented the tenant, which signed a 91-month lease. Headquartered in Tampa, Fla., AVI-SPL is the world’s leading video communications provider, building and supporting systems and environments that enable video collaboration.
Garrison recently purchased the two-building, Class-B Northlake Business Center as part of a portfolio transaction that Lincoln brokered late last year. Garrison retained Lincoln to continue managing and leasing the property while hiring FD Stonewater to provide asset management services.
“AVI-SPL is a fantastic tenant for Northlake,” Kellogg said. “The signing of this new lease is both a testament to Lincoln’s leasing expertise and the new ownership, which has recapitalized the project with funds available for tenant improvement costs and which is in a great position to aggressively pursue new lease deals.”
Jeffrey Toporek, principal of FD Stonewater, further commented, “The execution of the AVI-SPL lease has quickly increased occupancy to 82 percent in the 81,000-square-foot office flex park, quickly demonstrating the repositioning of the asset in the marketplace. We are excited to see such immediate progress toward stabilization.”