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Osceola seeking CRE broker for NeoCity

Osceola County is looking for a CRE firm with experience working in technology districts to take over the leasing and management of the $21 million office building known as the OC at NeoCity.
Osceola County is looking for a CRE firm with experience working in technology districts to take over the leasing and management of the $21 million office building known as the OC at NeoCity. (Ricardo Buxeda/Orlando Sentinel file)

Now that Osceola County has approved the Preliminary Subdivision Plan for NeoCity, it’s in the market for a real estate brokerage to take over the marketing, sales and leasing within the 500-acre tech district.

The county has posted a request for letters of interest (RFLOI) for a commercial brokers and consultant to advise the county on prospective buyers and the best use of the remaining 317 acres of developable property in NeoCity. The firm also would take over the marketing, leasing and management of the recently completed OC Office Building, which still has roughly 50,000 square feet of Class A office space available.

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The county dedicated the $21 million office building last October. It serves as the corporate home for BRIDG and U.S. headquarters of Belgium-based imec. Those agencies occupy half of the office space.

The subdivision plan creates 366 individual parcels, and entire city blocks, that can be sold to developers.

Jeffrey Bloom and Veronica Malalos of NAI Realvest have been charged with leasing the rest of the building.

“The Realvest contract remains active,” Procurement Director Rebecca Jones said. “The County is soliciting for services targeting NeoCity due to the unique nature and future vision for the area.”

The NeoCity subdivision plan creates 366 individual parcels and formalizes the road network that divides the district into 48 distinct blocks. It also identifies the locations of trails, parks and open space. The land is already master-planned as an urban mixed-use district, and it has Employment Center zoning, which does not allow for single family residential development.

The solicitation states that the county is looking for a firm with global reach and a clear understanding of the background, vision and “synergistic” nature of NeoCity.

“Proposers must have local and national (and/or international) offices with extensive contacts and demonstrated success in the recruitment and relocation of high-tech businesses. Firms with national offices in high-tech centers such as Silicon Valley, Austin, Raleigh-Durham, etc. are preferred.”

South Korean electronics maker LG is reportedly scouting locations for a 25-acre “Smart City” town center, according to a county consultant. Samsung and Hyundai are also presumed to be interested in locating research and development operations in NeoCity.

The RFLOI is available on the county’s VendorLink page and is due April 7, with an anticipated award date of May 18, 2020.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407)420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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