July 12, 2019
TerraCap Management acquired Lake Point Business Center, a six-building office campus in Orlando for $17.6 million. The 134,400-square-foot property is located in the South Orlando submarket, and is nearby the Orlando International Airport.
Ron Rogg of CBRE represented the seller, Raith Capital Partners, in the transaction. BankUnited provided acquisition financing for TerraCap.
“The anchor tenant at the property has occupied space for approximately 20 years and recently extended for 10 years,” said Chris Thompson, asset manager for TerraCap. “This tenant, along with the other tenants at the property, conducts the majority of their business in the South Orlando submarket. With the substantial growth in the submarket and expansion at the Orlando International Airport, we expect the occupancy at Lake Point to remain incredibly strong.”
For comments, questions or concerns, please contact David Cohen