City National Bank just inked a 13,500-square-foot lease at Orlando’s 28-story office tower in the heart of downtown’s Central Business District.
The tower at 390 N. Orange Ave. formerly displayed Bank of America signage, but last year Bank of America announced it would be moving its headquarters to 300 S. Orange Avenue.
City National Bank plans to operate a retail branch at 390 N. Orange Ave. and use office space for its Central Florida operations.
CBRE’s Jay Dixon and Tom Rich arranged the lease on behalf of ownership, Southwest Value Partners.
“We are excited to have City National Bank take over the retail banking operations in the building and expand their presence downtown," Dixon said in a release.
The bank recently issued a $45 million loan to help finance the $67.75 million acquisition of the 21-story Regions Bank Tower at 111 N Orange Avenue.
Miami-based real estate investment firm Black Salmon was the buyer.
Recent capital improvements in the 390 North Orange Avenue building include a new conference/training center, an enhanced lobby and elevator bank, upgrades to the fitness center, a redesigned courtyard, improved exterior lighting and technology upgrades to provide better security through controlled access.
Southwest Value Partners acquired the building in 2017 for $81.9 million.
Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.