ORLANDO – Two brokers with Stirling International Real Estate sold and leased more than 240,000 square feet in The Plaza – downtown Orlando’s twin office towers on Orange Avenue at the corner of Church St. – during the 18-month period when most of the nation and world was shut down in response to the pandemic.
“Several large units were sold to international businesses and investors along with local businesses including some startups,” according to Roger Soderstrom, Jr. and John Kurtz, the Stirling team who orchestrated the transactions including the entire 16th floor penthouse office in The Plaza’s North Tower for $2,650,000.00.
That most recent sale was for the north tower’s 10,891-square-foot contemporary penthouse unit and its accompanying 10,000-square-foot panoramic sky terrace / patio at 121 S. Orange Ave. Kurtz and Soderstrom represented the Seller ACM DT Properties, LLC, a Florida-based real estate firm. The buyer is Orlando-based 121 S. Orange Ave. LLC based in.
“This extraordinary penthouse unit, with high-end custom appointments, spacious indoor and outdoor work spaces, and 360-degree views of Lake Eola and the Downtown Orlando area, is ideal for a regional or U.S. headquarters,” Soderstrom said, “and definitely an investor confidence booster.”
Kurtz and Soderstrom said they aggressively sought investors who have been gradually pulling out of the stock market to buy commercial properties as a hedge against rapidly rising inflation.
The Plaza, which is comprised of two office towers with approximately 400,000 square feet, a residential condominium tower, and a ground-floor retail area that includes a movie theater, was built in 2006 and 2007.
Soderstrom and Kurtz also were the selling agents for the 21st floor penthouse in The Plaza’s South Tower a little over a year ago for $2,700,000, distinguishing them as very accomplished with sales in the Orlando area’s upscale office and penthouse market.
During the past 18 months, the Stirling team has sold 18 office condominiums in The Plaza, totaling more than 120,000 square feet with a sales volume of $27,000,000. At the same time, Soderstrom and Kurtz negotiated 21 offices leases for 92,000 square feet.
Currently, Soderstrom said the company has more than 28,000 square feet under contract and pending in the two towers.
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For more information about this release, please contact:
John Kurtz, CCIM, Broker, Stirling International Real Estate, JKurtz@StirlingIRE.com (407) 250-1000
Roger Soderstrom Jr., Stirling International Real Estate, 407-617-2830 or roger@stirlingint.com
Beth Payan, Larry Vershel Communications, 407-461-3781 or beth@larryvershel.com