Celebration Office Center I & II_Property for Sale
Celebration Office Center I & II_Property for Sale
1170 & 1180 Celebration Blvd, Celebration, FL, 34747, US

Celebration Office Center I & II

Asset Description

Jones Lang LaSalle Americas (“JLL”) is pleased to exclusively offer the opportunity to acquire Celebration Office Center I & II (the “Property or “Asset”), two Class A office buildings totaling 161,437 rentable square feet located in the thriving community of Celebration, Florida. Anchored by Walt Disney World (54% RSF) who recently expanded their occupancy by over 20,000 square feet reconfirming their commitment to the asset. Disney has occupied this asset for over 20 years and continues to demonstrate an appetite for expansion within the submarket. The property is currently 98.5% leased and boasts significant historical tenant retention with a 11.7-year WATT (“Weighted Average Tenant Tenure”). The Asset’s exceptional location offers convenient, direct access to two of Orlando’s busiest highways, Interstate 4 and The Greenway (SR 417). One of Central Florida’s most sought-after submarkets, Celebration showcases an average occupancy of 98% and an 83% population increase over the past decade.


At a current occupancy of 98.5% and with a renewed commitment from Disney, who has occupied the asset since Jan-2001, Celebration Office Center offers a unique opportunity to acquire a well performing asset in a high growth micro market.

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Attributes

Building area net
15,034 m²
Occupancy
98.5%
Year built
2000
Land area net
5.1 ha
WALT
3.6 years
Building class
A

Media

Investment Highlights

DIVERSE QUALITY CREDIT TENANT PROFILE

  • Diversified, long-term prestigious tenant base with 54% investment grade tenancy highlighted by Disney Worldwide (S&P: A-)


NEARBY HOUSING ACCESSIBILITY

  • More than 2,700 class A multifamily units within 3 miles have delivered in the past decade and home values ranging from $450K to $3.3M


DISNEY EMPLOYMENT DRIVER

  • Significant commitment from Disney with 20+ years of occupancy and recent expansion in COC I


IMMEDIATE HIGHWAY ACCESS AND EXCELLENT CONNECTIVITY

  • The Property offers unmatched access to I-4 via World Drive and located less than 15 minutes from Walt Disney World and Orlando’s Old Town


ROBUST AMENITY HUB

  • Strategically located at the center of the master planned Celebration community, the Property offers immediate accessibility to the Town Center at Celebration featuring myriad of restaurants and shops


ATTRACTIVE COST BASIS

  • The Property will trade at a significant discount to replacement cost, which will only increase as construction costs continue to rise at record pace, providing an attractive basis to a future owner
Celebration Office Center I & II 4_Property for Sale
Celebration Office Center I & II 4_Property for Sale

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Celebration Office Center I & II (0 Properties)

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Last updated
3 Oct 2024