ORLANDO – Chris Adams, MiCP, Vice President at NAI Realvest, closed the sale of a Longwood office building after leasing up the property.
Representing the owner, Centre Point Prop, LLC, Adams closed the sale of 740 Florida Central Parkway, Longwood for $1,800,000. The property is a two-story, 20,140 SF office building located in South Point Centre.
Adams recently renewed 2 tenants, Royal Protection & Security and Florida Chiropractic Health Center, LLC, maintaining the high occupancy rate and making the property attractive to an investor.
The buyer, Emma II, LLC was represented by Radha Rambilas with RS Equity Services, LLC.
“This sale shows that office properties can still be sold if they are good investments. We sold this property for 96% of the asking price. The existing tenants are continuing to renew their leases and having these 2 tenants renew demonstrated to the buyer that this property is stable and a good long-term investment.” said Adams.
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About NAI Realvest
NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 400 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.nairealvest.com.