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The portfolio, comprised of the Bank of America Center, Citrus Center, and One Orlando Centre, was recently acquired by Southwest Value Partners.
ORLANDO – February 22, 2018 – JLL announces today that the firm has been retained by Southwest Value Partners (SWVP) to manage three Class A office buildings that the ownership group recently acquired in Downtown Orlando, Florida. The Bank of America Center, Citrus Center and One Orlando Centre comprises a portfolio totaling more than one million square feet, offering tenants a wide range of office spaces and a rare entry point into a mixed-use urban market in one of the fastest-growing cities in the country.
JLL Regional Manager
Sean McNamara will spearhead the management efforts on behalf of Southwest Value Partners, a privately held real estate investment company that focuses on institutional quality real estate located in growth markets within the US. CBRE's Jay Dixon and Tom Rich will serve as the exclusive leasing agents for the properties.
"Each of the three buildings in this portfolio are some of the most iconic trophy assets in Downtown Orlando's office market," said JLL's Sean McNamara. "We are excited to partner with CBRE on behalf of Southwest Value Partners to reach each asset's full potential by providing best-in-class property management services."
The Bank of America Center at 390 North Orange Ave. is one of the most recognizable office buildings in Orlando. The 421,069-square-foot, 28-story Class A office tower is one of city's most sought-after office locations. Citrus Center situated at 255 South Orange Ave. sits at the intersection of Orange Avenue and East Jackson Street, one of the city's most active pedestrian intersections. The One Orlando Centre at 800 North Magnolia Ave. is a 355,783-square-foot., 19-story Class A office tower and represents the only Class A office building in downtown's urban core suited to accommodate a tenant of approximately 40,000 square feet.
JLL's Q4 2017 Office Insight report cites that Class A asking rents in Downtown Orlando have reached $28.69 per square foot. This is the first time asking rents climb above $28.00 per square foot since the third quarter of 2009, almost a decade ago. This new peak in rental rates is fueled mostly by consistent tenant demand, as Class A vacancy now sits at 9.3 percent in this segment of Orlando's active office market.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit
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