Lake Destiny Executive Center I and II, located at 1001 & 1101 N. Lake Destiny Road in Maitland, Florida, has new property upgrades underway. TerraCap acquired the property in December 2015 with the vision of renovating both buildings and re-positioning building II, which is approximately 23,106 RSF to target single users. Lake Destiny II offers lake views, 17 covered parking spaces and building signage on I-4. The slightly larger 57,358 SF Lake Destiny I building will be marketed as a Class A, multi-tenant building with lake views, covered parking and upgraded amenities. Both buildings have great access to I-4 via Maitland Blvd or SR 436. With the ultimate I-4 project underway, having a choice between Maitland Blvd and 436 saves valuable time for tenant employees.
New property renovations include painting of the buildings, common area upgrades, new electronic directory, elevator cab upgrades, new lit tenant monument sign, deck upgrades, pavers in patio area along with new patio furniture, pavers at entry, a complete asphalt re-top for both parking lots and landscaping upgrades. In addition, TerraCap is preparing current vacancies to be lease ready by capitalizing on natural light with open floor plans and utilizing more side lights and windows for private offices. TerraCap is also creating more functional layouts that also allow for more views of the lake. It’s important to have “spec suites” available to help tenants visualize and showcase the quality of work TerraCap puts into their properties.
Tenants are responding very positively to the new upgrades and are now signing longer term leases at increased rental rates. It’s been a “win-win” scenario for both the Tenants and Landlord.