Orlando, FL – March 17, 2015 – (RealEstateRama) — CBRE arranged the sale of a 42,277-square-foot Class A office property located at 7208 W. Sand Lake Road, Orlando, FL. Cardinal Point Management, LLC acquired the three-story Sand Lake Southwest building from an affiliate of Highwoods Properties for an undisclosed amount. CBRE represented the seller.
“The property is strategically located in a highly visible location on Sand Lake Road along Orlando’s tourist corridor,” said Ronald J. Rogg, Executive Vice President of CBRE Capital Markets, Office & Industrial. “This transaction demonstrates the strength of the Central Florida office market and the willingness to invest in well-located properties.”
Constructed in 1986, Sand Lake Southwest recently received various capital improvements, including a newly renovated first floor lobby. The property features a 155-space parking lot that encircles the building.
Sand Lake Southwest is leased to a well-diversified mix of highly recognizable tenants, including BB&T, Booking.com, Lamar Outdoor Advertising and Fidelity National Financial. Located along Orlando’s ”Restaurant Row” in the affluent Dr. Phillips area, the building is just minutes from the Orange County Convention Center, Mall at Millenia, Universal Orlando Resort and the international airport. The property offers convenient access to I-4, the Florida Turnpike and the Beachline Expressway (SR 528).
CBRE’s Rogg and Chip Wooten exclusively represented the seller in the transaction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.