A rooftop penthouse office with a terrace overlooking downtown Orlando is on the market as part of an office condo portfolio that makes up 20 percent of the leasible space in the Plaza North and South towers.
The seller, an affiliate of Colorado-based Real Capital Solutions, controls more than 83,000 square feet within the mixed-use development at the corner of S. Orange Avenue and Church Street.
A selection of ready-to-move-in suites are available ranging from 2,400 square feet to an entire floor with nearly 20,000 square feet, according to Stirling’s John Kurtz and Roger Soderstrom, Jr.
“Nearly all of the office space in downtown Orlando is only available for lease,” Soderstrom said. “This is a rare and limited opportunity for a company to own its own office at a fraction of the cost to build a new office in the CBD, which could cost as much as $375-$400 per square foot.”
They see the penthouse, which has 10,891 square feet of office surrounded by a private 10,000 square foot wrap-around garden terrace, as an ideal location for a corporate headquarters office. Real Capital Solutions Vice President Adam Abeln told GrowthSpotter the trophy asset is already sparking buyer interest.
“We just had a showing this morning," he said. “I don’t think a penthouse unit has been offered since the project was originally developed. The terrace has a 360-degree view of downtown Orlando. There’s really nothing quite like it.”
The portfolio pricing will average around $240 per square foot, with vary floor, finishes, views and special features like private balconies, Soderstrom said.
The team is also seeking investors for the opportunity to purchase several market rate leased suites with tenants in place.