Stiles Realty announced today the leasing of 49,000 square feet of office space to several fast-growing Central Florida firms at the Class A Baldwin Park Office Complex in Orlando. This brings the property to approximately 93 percent leased with six new local and national tenants. Baldwin Park I and II is strategically located in the upscale community of Baldwin Park at 4750 and 4776 New Broad Street, respectively, just three miles from Downtown Orlando.
The Baldwin Park office complex has experienced a surge in leasing activity in 2012, sparked by a 28,000-square-foot relocation of architecture, engineering and planning firm Rogers Lovelock and Fritz earlier this year. This lease, as well as a nearly 3,000-square foot lease with international skincare firm Dermalogica, brought the first building to 100 percent leased. Baldwin Park II is 86 percent leased with 7,070 square feet leased to Gallagher Bassett Services, the largest property and casualty third-party administrator in the United States, as well as 4,790 square feet leased to Allied Specialty Vehicles, a privately held company with approximately $1 billion in revenues. Stiles Director of Leasing Jill Gull represented the landlord, American General Life and Accident Insurance Company, in the recent transactions.
“While the Orlando office market continues to experience some positive absorption, Baldwin Park is outperforming the overall market due to its wide range of amenities that are geared toward retaining talent and growing business,” said Gull. “These buildings offer an upscale professional environment, a walk-to-everything location in the popular Baldwin Park Village Center and competitive market rates.”
Stiles is responsible for the leasing and property management for the Baldwin Park office complex, which total 64,695 square feet. Other new tenants include online home furnishings and design company Altogether Home and real estate and property management firm Phoenix Realty Services.
Gull noted that the property’s close proximity to Baldwin Park Village Center’s restaurants, shops and other amenities was a key factor in attracting tenants. “The combination of Baldwin’s quality space and location within an upscale community offering a first-class live-work-play environment has been the catalyst for our ability to take it from 27 percent occupancy when we first took over the listing one year ago to above 90 percent today.”
About Stiles
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, architecture, leasing and brokerage, property management, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles also has regional offices in Miami, Fort Myers, Tampa and Orlando, Florida. Stiles is responsible for more than 37 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://stiles.com or call 954-627-9300.
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