Class A office building trades in heart of Orlando’s Baldwin Park
JLL completed the $5.9M sale, representing a significant transaction of an owner-user property to close during the pandemic
ORLANDO, August 12, 2020 – JLL announced today that it has closed the $5.9 million sale of 1925 Prospect Ave., a 20,604-square-foot Class A office building occupied by Cuhaci & Peterson Architects and Engineers in Orlando, Florida.
JLL represented the seller, CDLP Properties LLC, a single-purpose entity comprising the former owners of the architecture and engineering firm that occupied the office building. The building was sold to the entity Baldwin Oak, LLC. The selling of the property was the first step in the process of Cuhaci & Peterson Architects and Engineers consolidating its offices in Central Florida.
One of the only 100% fee simple parcels in Baldwin Park, the two-floor office building with dedicated parking is in the heart of this highly sought-after, planned community in Orlando that features a true live-work-play environment. The Baldwin Park neighborhood and its commercial offices continue to have a strong appeal to local and regional companies seeking to grow their footprint in Central Florida.
JLL’s Executive Vice President Darryl Hoffman led the transaction on behalf of the seller.
“While COVID-19 has undoubtedly affected Orlando’s office space market and the commercial real estate market abroad, this transaction is a prime example of local businesses persevering through adversity,” Hoffman said. “Not only does it show that demand for commercial office remains, it also demonstrates that local businesses can and will lead our region to a post-COVID-19 economy.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.