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Old Republic National Title pays $17M for office building, 20 acres north of airport

Old Republic National Title pays $17M for office building, 20 acres north of airport
Highlighted in blue, the four parcels acquired lie along Corporate Centre Boulevard, just north of Lee Vista Boulevard and east of S. Semoran Boulevard. (Orange County Property Appraiser)

Tampa-based Old Republic National Title and Insurance Company paid $17.2 million on Dec. 12 for the Attorney's Title Insurance Fund headquarters in South Orlando and nearly 20 adjacent acres, a few miles north of Orlando International Airport.

Located at 6545 Corporate Centre Blvd. and just north of Lee Vista Boulevard, the Attorney's Title property features a five-story building built in 1990 with 81,951 net square feet, along with a three-acre parcel dedicated to surface parking. It lies within the business park Orlando Corporate Centre.

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ATIF will remain as leased tenant of the building in a joint venture deal with Old Republic, and the buyer has no immediate development plans for the two parcels totaling 19.57 acres, GrowthSpotter has confirmed through sources with direct knowledge of the deal, on condition of anonymity due to corporate policy on public comments.

The buyer is a subsidiary of Chicago-based Old Republic International Corporation, one of the nation's oldest and largest insurance companies. Old Republic National Title relocated its executive office from Minneapolis to Tampa in 2014, a move credited to Florida being the company's no. 1 state for policyholders.

The property lies within more than 500 acres that were part of the Orlando Corporate Centre DRI. That DRI's development order was rescinded in 2014 and the property's PD zoning was amended, with these two parcels totaling 19.57 acres (parcels 3A and 3C) to have "Multi-family" added to the established "Office" designation.

Attorney's Title Insurance Fund bought the building, formerly known as Parkview Plaza, for $5.5 million back in April 1997, and announced plans at the time to invest another $5 million in it before moving 250 employees on site. That deal included about nine acres of the adjacent undeveloped land; another 10.57-acre parcel was bought in January 2000 for $2.07 million by Attorney's Title, from a trust managed by Maury L. Carter & Associates.

Old Republic's executive office in Tampa and its parent company Old Republic International did not respond to requests for comment Monday.

Attorney's Title Insurance Fund also did not respond to an interview request.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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