Orlando, FL – December 3, 2014 – (RealEstateRama) — CBRE arranged the sale of a 124,500-square-foot single-tenant office property leased to Kaplan University at at 12650 Ingenuity Drive, Orlando, FL. US-based City Office REIT, Inc. (NYSE: CIO),acquired the two-story building at Central Florida Research Park from RT Ingenuity, LLC for $26.5 million. CBRE represented the seller.
“Central Florida Research Park (CRFP) offers a combination of flexible office space, great amenities and convenient access to major transportation arteries.” said Ronald J. Rogg, Executive Vice President of CBRE Capital Markets, Office & Industrial. “Kaplan University considered 20 cities across the United States during its site selection process, but CFRP and the University/Research Park micro market stood out after comparing its ground breaking research partnership with UCF, access to a highly-educated workforce including college students, and the incredible prestige of this exclusive address.”
The property features a 25-foot-high glass atrium, open spiral staircase, on-site modern cafeteria, and high technology infrastructure, which includes uninterrupted and redundant power, FM-200 dry fire suppression, advanced security and fire protection, and CAT5 cabling throughout. The site also includes land for future development.
In 2008, Kaplan University signed a 13-year lease for the entire building and uses the property as a customer support center that has sales, marketing and customer service functions. The research park is well-situated near Orlando’s central business district (CBD) and the international airport, and offers easy access to State Roads 408 and 417, Highway 50 and the Florida Turnpike.
CBRE’s Ronald Rogg and Chip Wooten exclusively represented the seller in the transaction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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