JLL closes $7.55M sale of Technology One in Orlando
JLL closes $7.55M sale of the fully leased asset in Central Florida Research Park
ORLANDO, October 22, 2019 – JLL announced today that it has closed the $7.55 million sale of Technology One, a 31,872-square-foot, single-story office building in Orlando, Florida.
JLL represented the seller, Equity Partners, Inc, and procured the buyer, Chicago-based Zaragon, Inc.
Technology One is fully leased to two industry-leading simulation companies, Cole Engineering and Bohemia Interactive. The facility is located at 3050 Technology Parkway within the Central Florida Research Park, the largest research park in Florida and a national leader in modeling, simulation and training. The property benefits from its close proximity to the University of Central Florida and its location across the street from the Program Executive Office for Simulation, Training and Instrumentation, which makes it a mission critical location for both tenants. Additionally, Technology One is surrounded by the main cluster of U.S. military organizations responsible for the research, development and acquisition support for the U.S. Army, Navy, Marine Corps and Air Force.
The JLL Capital Markets team representing the seller was led by Senior Director Robbie McEwan and Associate Ryan Stoffer.
“Central Florida Research Park has experienced significant tightening within the market due to tenant demand and expansion,” McEwan said. “As defense contractors and simulation training companies continue to grow along with the University of Central Florida, investors continue to view this submarket as one of the most attractive in the state. We were able to generate a significant amount of interest in this particular asset by targeting middle market buyers across the country.”
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. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Equity Partners, Inc. specializes in office development, landlord and tenant representation and building sales in Central Florida. For more information, please visit: equitypartners.net.
Zaragon, Inc. is a diversified real estate investment company, which owns and manages income producing properties throughout the United States with a geographic emphasis in the Midwest, Southeast and Southwest sections of the country. Headquartered in Chicago, Zaragon owns and/or manages approximately 3,500 apartments, 1,100 manufactured housing units, 1.2 million square feet of office and industrial space and several thousand acres of vacant land. In addition, Zaragon both develops and purchases student housing at major universities throughout the U.S.