Lockheed Martin has acquired a 176,000-square-foot administration building located in its Orlando campus off of W. Sand Lake Road for $12.8 million, a building the company's Missiles and Fire Control division has leased since 1983.
The purchase now gives Lockheed Martin control of its entire 2.2 million-square-foot Orlando campus, per a company spokesperson.
The building is located on land that had been leased previously from LMC Properties Inc., Lockheed Martin's real estate subsidiary, to Newkirk Lanmar L.P., prior owner of the building. Its address is 5660 Sand Lake Rd., a general address used for much of the sprawling property.
At the intersection of W. Sand Lake and Universal Boulevard, Lockheed subsidiary LMC owns a 6.88-acre undeveloped parcel that's zoned commercial, and could blossom with a wider thoroughfare, new hotels and tourist-commercial development to the south.
LMC owns another undeveloped 38.7-acre parcel that fronts W. Sand Lake Road in the middle of its campus.