Commercial building planned adjacent to existing Research Park offices

An affiliate of Orlando-based Equity Partners Inc. plans a second building at the Discovery One property it purchased this year on the corner of Research Parkway and Discovery Drive.

The 25,000-square-foot building would stand just south of a single-story commercial building constructed in 1984, according to Orange County records, with 17,331 square feet of conditioned space.

Equity affiliate Discovery Equity LLC in June paid for $2.5 million for the 7.6-acre site, buying it from an affiliate of Elevation Financial Group. General Dynamics is a former occupant of the property. The existing building is being marketed for lease by Equity Partners with approximately 11,830 square feet Class B space available.

SK Consortium Inc. of Maitland is engineer for the planned building with TerraCon Consultants of Winter Park working on geotechnical engineering. The development would be Equity Partners President Michael Fess’ 10th office building brought to market, according to its website. Attempts to reach Fess for comment were not immediately successful.

Equity Partners’ portfolio holdings include four other properties in the UCF area and two more in Baldwin East according to its website.  Fess’ previous office developments in Metro Orlando total approximately 480,000 square feet of office space, including the Challenger One and Science One projects in the Central Florida Research Park area.

It built the Class A Science One property on spec, telling GrowthSpotter at the time that it would be built with an open interior that a tenant could customize to suit its needs. Equity Partners said on its website it signed a long-term lease with tenant ServiceNow before construction was completed.

Recent activity in the Research Park area includes a single-story office building with approximately 100,000 square feet that's being developed by GrayPointe Capital on Research Parkway on 13 acres, built to suit with corporate tenants in mind. 

Also, TerraCap Management paid $39.19 million in May for two Class A office buildings next to UCF’s campus with 244,549 square feet total: a three-story building constructed in 1999 and a 5-story building constructed in 2003. 

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