CORPORATE PARK OFFICE BUILDINGS AND ATHENS COLLEGE

CORPORATE PARK OFFICE BUILDINGS AND ATHENS COLLEGE
ACQUISITION, MULTI-PARCEL ASSEMBLAGE, ENTITLEMENTS, JOINT VENTURE, REDEVELOPMENT

  • Acquired Corporate Park Office Buildings 1 and 2, two sister buildings of 45,000 SF each on 6 AC for $4.75M on 12/2013 located at 3660 Maguire Road, Orlando for repositioning and redevelopment, to include relocating tenants from Building 1 to Building 2, both 50% leased.
  • Acquired former ‘Athens College’ at 825 McCullough Avenue on 13.57 AC, former College of approximately 50,000 SF, abutting the ‘Corporate Park’ property.
  • Sold ‘Athens College’ on 11/2017 for $8.642M as part of an assemblage and redevelopment to Brookstone Audubon LLC for Class-A apartments.
  • Sold ‘Corporate Park’ on 5/2013 for $6.48M to Audubon Office Park, LLC.
  • Entitled both properties, AC-3 zoning, City of Orlando for newly constructed ‘Urbon Apartment Homes’, Class-A units, encompassing 358 apartments as part of Phase 1, as part of a joint venture with MMM Lakewood LLC, ie. Maguire Family and Brookstone group from South Florida.
  • Urbon’ Phase 2 will be developed at a future date as ‘Corporate Park 1’ is demolished and office tenants relocated to ‘Corporate Park 2’.
Skills

Posted on

April 21, 2021