Orlando-Area Office Building Trades for $4M
Cushman & Wakefield's advisory team facilitated the disposition of Seminole Springs Office Center, which was 65 percent leased at the time of the sale.
By Timea Papp
Seminole Springs Office Center in Longwood, Fla.
Cushman & Wakefield has completed the sale of Seminole Springs Office Center, a 32,975-square-foot office building in suburban Orlando, in a $4.1 million transaction.
Managing Director Damien Madsen and Senior Associate Tommy Pinel worked on behalf of the seller, Springs Equity Ltd. Seminole Springs Office Center LLC acquired the property, paying approximately $124.34 per square foot. According to public records, First Colony Bank of Florida provided $3.1 million in acquisition financing to facilitate the deal. The deal did not include 50 percent of the underlying land, subject to a ground lease and valued at $1.05 million.
“This was a great transaction for all parties involved. A true win-win solution,” said Madsen in a prepared statement. “The process, sale and closing all took place with no issues,” he added.
Completed in 1985, the three-story building features classic red brick construction, bank space, drive-thrus and ample parking. It is currently 65 percent leased, with notable tenants including Waste Pro, a waste services company headquartered at Seminole Springs Office Center. The office building sits on a 1.75-acre site at 2101 West State Road 343 in Longwood, Fla. This location offers exposure and access to Interstate 4, located less than one-quarter mile east of the property.
Image courtesy of Google Maps Streetview
You must be logged in to post a comment.