Description de l'actif
Jones Lang Lasalle (“JLL”) is pleased to exclusively offer the opportunity to acquire 369 N New York Ave (the “Property”), a 27,948 square foot multi-tenant office building in the prestigious Winter Park office submarket. The Property is 100% leased with a strong tenant profile and a weighted average lease term of 5.1 years, providing investors with a stable and predictable annual cash flow. Also included in the offering is a rare in-fill development opportunity in Downtown Winter Park, allowing investors to maximize the value of the Property’s irreplaceable location. In addition, the Property provides optionality for an owner-user to occupy a portion of the building.
Winter Park is a highly coveted submarket with a reputation as the most affluent neighborhood of Orlando, featuring the lowest vacancy rate and highest asking rents of all of Orlando’s largest office submarkets. The area is known for its beautiful lakefront estates, executive homes, top-rated schools, parks, and community areas. This asset is situated just steps away from the eclectic retail and dining destination of Park Avenue.
Caractéristiques de l'actif
Points clés d'investissement
Weighted average lease term remaining is 5.1 years and Winter Park office vacancy is less than 5%
Synovus (NYSE: SNV) and CTO Realty Growth (NYSE: CTO) are both publicly traded companies
Steps from high-end Park Avenue shopping and dining
HIGH BARRIERS TO ENTRY
Lack of available land in Downtown Winter Park
Rare opportunity for additional development upon rezoning
Centrally located within the Orlando MSA and just steps away from SunRail
Winter Park is among Orlando’s most affluent areas, boasting an average household income of $150k