Vital Record Control of Florida and Rhino Tire USA became the newest tenants at Bent Oak Industrial Park when they recently signed leases for 60,771 and 144,556 square feet, respectively. Vital Record Control will be in Building 300, and Rhino Tire will be joining Lasco Fittings and Toyota Motor Sales in Building 100. The CFI Team of Cite Partners represented the Landlord, McCraney Property Company.
Since being awarded the Bent Oak leasing assignment, Cite Partners has leased over 1.2 million square feet of industrial warehouse space at the park, which is currently 70.5% occupied.
Please click the link below to see the current list of the Central Florida Office Team’s available properties.
CFO Listings 2017-07
For the third straight year, Cite Partners was a proud Silver Sponsor of the 2017 Ronald McDonald House Bowl-A-Thon, held at Colonial Lanes. This year’s event raised over $12,000 to benefit families that turn to the Ronald McDonald House for lodging and support in Orlando each year.
NATIONAL RETAIL OUTLOOK
With 2016 well behind us and 2017 fully underway, it’s almost disheartening to continue the discussions surrounding President Trump. However, Trump’s presidency will have a direct impact on commercial real estate. President Trump is placing a significant focus on making changes to fiscal, trade, regulatory, and diplomatic policy with his economic plan; however, the details are still unknown. It will take a long time before we fully understand how the Trump Administration’s policies will impact the economy and the real estate market. As we have seen in past elections, it will be extremely difficult for Trump to realize any significant progress in his first year in office.
To view the Central Florida Retail Investment Market Report in its entirety, please click below:
Cite Partners Retail Investment Market Report 2017-Q1
STRONG AND STEADY
The heartbeat of the industrial market in Central Florida continues to be strong and steady. Absorption remains positive for yet another quarter, and the number of buildings being delivered in the first quarter of 2017 are giving users more new building options to consider when looking for space. This is causing some institutional landlords to get creative in order to win a deal.
To view the Central Florida Industrial Market Report in its entirety, please click below:
Cite Partners Industrial Market Report 2017-Q1
Orlando Office – A Different Question of Sustainability
Sustainability is defined as ” the ability to be supported, upheld, or confirmed.” It is used today mostly in an ecological sense where it can mean “the quality of not being harmful to the environment or depleting natural resources, and thereby supporting long-term ecological balance.”
Sustainability in the Orlando Office Market is an important question – but not for the reason that you might think. The question that I ask is whether the successes that we’ve seen in the Office community through the last several years can be sustained. As the saying goes, the tide rises all boats – and that saying holds true for most of the submarkets in Orlando as virtually all markets saw an increase in productivity in 2016 (ie: vacancy decreases; rental rate increases; landlord sentiment is favorable; tenant incentives on the decline, etc.).
To view the Central Florida Office Market Report in its entirety, please click below:
1Q2017 Office Market Report
Please click the link below to see the Central Florida Office Team’s available properties.
CFO Listings 2017-04
Ever-Green Express Service became the seventh tenant at Bent Oak Industrial Park when they recently signed a lease for 18,676 square feet in Building 400. The CFI Team of Cite Partners represented the Landlord, McCraney Property Company, and Derek Riggleman of Lee & Associates represented the Tenant.
Since being awarded the Bent Oak leasing assignment, Cite Partners has leased almost one million square feet of industrial warehouse space at the park.
Bent Oak Industrial Park, Building 400
John Krzyminski recently joined Cite Partners to lead their new Retail Investment Sales team, which will focus on single- and multi-tenant retail investment properties in Central Florida. Prior to joining Cite Partners, John was a retail specialist with Marcus & Millichap focusing on single-tenant net-leased assets. He is a graduate of IONA College of New Rochelle, NY as well as Chicago-Kent College of Law.
Cite Partners participated in their second Warrior Dash earlier this month. The day was sunny, the mud was plentiful, and a good time was had by all. The Warrior Dash, hosted by Red Frog Events, raises money to support the St Jude’s Children’s Research Hospital.