Hollywood-based TCII Capital Group spent $3.1 million last week for the former Copytronics building -- its third commercial asset in Winter Park.
The office space expands the firm's growing footprint in Central Florida. Located just north of the intersection of Orlando and Fairbanks avenues, the two-story office building was built in 1957 and comprises 11,662 square feet of office/showroom, with the remaining 2,498 square feet being first floor warehouse space.
TCII Vice President Jason Glaser told GrowthSpotter the company is planning some renovations to the property, but declined to provide specific details.
Learn what drew this investor to buy their second large commercial asset in the city within the past year, and the value-add potential.
By Mike Salinero
Apr 11, 2018 | 3:50 PM
"The property, despite being vacant, is in excellent condition and we really like the location and opportunity to re-tenant the building," he said. "We are marketing the building for both single users and/or subdividing the space out for multiple operators. The building can accommodate a mix of both office and retail users."
This is the third commercial property TCII has purchased in Winter Park in the past year. The firm paid $9.5 million last summer for a four-story office building and adjacent retail properties a block away, at the southwest corner of the intersection.
In April, TCII paid $2.9 million for two flex industrial buildings on the 1100 block of Solana Avenue.
Lee Zerivitz of CITY Commercial represented TCII in the deal, which closed on May 31. Hold-Thyssen President Bob Hold represented the seller, SSS Investments of Jacksonville, which had owned the building since 1994.