exclusive leasing agent, says leasing activity thus far has consisted of both office and
retail tenants, primarily in the service industry. The buildings will seek LEED and
Energy Star certification, offering advanced “green-friendly” technology such
as a real-time location system that coordinates elevators to the correct floor and
turns on air conditioning, lights and other
items when cars access the garage, he says.
While some brokers express concern
about the current timing of the project,
which will be built in phases through early
2010, Reynolds shrugs off softening conditions in the Orlando office market.
“The tenants that are signing leases are
new ventures looking to operate in Orlando,” he says. “They are not necessarily
businesses looking to lease
space today.”
On the investment sales
front, $783 million in total
office building sales activity was recorded in 2007,
a 20% increase from $654
million in 2006. The average price paid for buildings also increased
dramatically, to $209 per
sf last year from $155 per
sf in 2006. Noteworthy
sales last year included One Orlando
Centre, at $90.6 million or $255 per sf,
and Maitland Colonnades, at $51 million or $196 per sf.
CBRE is keeping a close eye on capi-
tal markets this year, says
Bill Moss, the firm’s senior
managing director for
Florida. “The more predictable pricing and availability of capital in the
coming year will add liquidity to the market and
contribute to commercial
market improvements,”
he says.
WTC Orlando is part of
the World Trade Centers
Association, a global organization that
connects its members to over 300 cities
and 90 countries around the world.
More than 750,000 companies are affiliated with the association. —REFLA
World Trade Center Orlando
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