Jones Lang LaSalle (“JLL”) is pleased to exclusively offer the opportunity to acquire Celebration Business Center (“CBC” or “The Property”), a two-building 106,068 square foot multi-tenant, single story office portfolio located in Orlando, FL. The Property was constructed in 1997 and offers unique, flexible layouts for office, medical office and creative office tenants including 16’ clear heights, roll up doors and extensive plumbing. This asset is currently 82% occupied and sits within the Tourist Corridor submarket that is currently 94% occupied, providing the opportunity for investors to increase cash flow through lease up. CBC features a strong mix of local and national tenants and is anchored by Walt Disney World (S&P “A” Rated) who occupies 37% of the Gross Leasable Area.
The master planned community of Celebration was developed by The Walt Disney World Company in the 1990’s and is one of the most successful in all of Central Florida. This live, work, play community features two “A” rated public schools, average home prices that are two times greater than the metro Orlando area, community centers, neighborhood walking trails and top-rated golf courses, providing a high quality of life for residents. Less than a mile away is the amenity rich TownCenter at Celebration featuring numerous restaurants, cafes, coffee shops and specialty food stores. CBC also sits less than a half mile from AdventHealth Celebration Hospital, a 315,000 square foot, 220 bed acute-care facility that services residents as well as Walt Disney World Resort visitors.
The asset is ideally positioned at the confluence of two of the most heavilly trafficked interstates in Florida, The Greeneway (SR 417) and I-4. It is also sits at the epicenter of the undisputed tourism capital of the world and stands to benefit from the full reopening of Orlando’s major theme parks. Celebration Business Center offers investors the opportunity to acquire a quality single-story office park at well below market occupancy with both significant existing cash flow and upside through increased occupancy.
- DISNEY ANCHORED “A” RATED
- RARE VALUE-ADD OPPORTUNITY WITH 82% OCCUPANCY
- LOCATED IN TOURIST CORRIDOR / CELEBRATION SUBMARKET WITH NUMEROUS AMENITIES
- SINGLE STORY OFFICE ASSET WITH DIRECT ACCESS
- FLEXIBLE LAYOUTS WITH 16' CEILING HEIGHTS AND EN-SUITE PLUMBING AND RESTROOMS
- ORLANDO, FL MSA WITH STRONG ECONOMIC FUNDAMENTALS
- MEDICAL OFFICE TENANTS INCLUDING DAVITA DIALYSIS AND THE WOMEN'S CENTER