Pacer Partners Expands Orlando Office Footprint
- Nov 22, 2018
AEW Capital Management has completed the sale of a Class A, 151,479-square-foot office portfolio within SouthPark Center, a 162-acre master planned business park in Orlando, Fla. Pacer Partners acquired the two-building property. A Cushman & Wakefield Capital Markets team worked on behalf of the seller.
Located at 8325 and 8301 S. Park Circle, the assets are fully leased to companies including Catamaran, Banco de Brasil and Walgreen’s. Among the newest buildings within SouthPark Center, the properties known as 700 and 800 SouthPark Center were constructed in 2007 and 2008.
Cushman & Wakefield Executive Directors Michael Lerner and Rick Brugge, along with Vice Chairman Mike Davis, facilitated the transaction. According to Yardi Matrix, the buildings previously changed hands in August 2014, when AEW purchased a 1.6 million-square-foot portfolio from Florida East Coast Industries. This September, the same Cushman & Wakefield team facilitated the sale of a three-building office portfolio in Orlando.
“SouthPark Center is one of Orlando’s premier suburban office parks. The high parking ratio at the 700 and 800 buildings is extremely rare and provides a competitive leasing advantage particularly for larger call center operations,” Lerner said in prepared remarks.
SouthPark Center features more than 1.5 million square feet of office space with amenities including outdoor eating areas, on-site deli, dry cleaner, mobile detailing, walking trail and dedicated Lynx bus stops. The office park is near the intersection of John Young Parkway and Sand Lake Road, in the proximity of Orlando International Airport. The location provides access to the Florida Turnpike, Beachline Expressway, Interstate 4 and the Orange County Convention Center.
Images courtesy of Cushman & Wakefield