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Castle Lanterra Commercial’s Orlando Office Acquisiton Adds to Florida Portfolio
Castle Lanterra Commercial has purchased University Corporate Center I, a Class A office building located at 3501 Quadrangle Boulevard in Orlando, FL. The transaction marks Castle Lanterra’s second office acquisition in FL in recent weeks.
“University Corporate Center is in one of the fastest growing markets in the country and sits in a complex of Class A suburban office properties with a very high barrier to entry,” said Elie Rieder, CEO for CL. “This asset offered a unique opportunity to acquire a high-quality office building at an exceptional cost basis with in-place rents significantly below market, providing a mark-to-market opportunity as leases expire – a rarity in this market.”
The 129,087-square-foot University Corporate Center I has been owned and managed since being developed by the Opus Group in 1999. The multi-tenant asset is LEED certified and has had substantial capital improvements made since 2019.
- ◦Sale/Acquisition
