May 19, 2017
Cushman & Wakefield negotiated the sale of Colonial Center at TownPark, a four-building, 662,320-square-foot, Class A office portfolio in suburban Orlando. Public records peg the record Central Florida transaction at a figure north of $136 million.
Cushman & Wakefield’s Mike Davis, Michael Lerner and Rick Brugge represented a fund advised by New York-based DRA Advisors, LLC in the disposition of the 96.9% leased asset. An affiliate of the Atlanta-based Brookdale Group acquired the buildings.
The deal qualifies as the the largest brokered suburban office portfolio sale in Orlando history, eclipsing the previous mark set by the November 2016 sale of Primera Towers, also negotiated by Davis, Lerner and Brugge.
Colonial Center at TownPark comprises four buildings at 100, 200, 300 and 600 Colonial Center Parkway in Lake Mary, FL, within the more than 200-acre Colonial TownPark urban-style, live-work-play community.
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