Franklin Street negotiated a new long-term lease at a 267,414-square-foot, Class A office building in Orlando’s central business district. Pipeline Workspaces, a national shared-workspace provider, will occupy 11,471 square feet at the property, with plans to open the new office space in early 2018.
Located at 20 N. Orange at the corner of Orange Avenue and Central Boulevard, the property was formerly known as Well Fargo Tower. According to Yardi Matrix, Steelbridge Capital acquired the 16-story asset for $34.8 million in October 2014, and began an extensive renovation program shortly after, with further improvements to the streetscape to be completed in the future. The property features a new lobby design and upgraded finishes, modernized elevators, 24/7 security, on-site property management and engineer staff, café, full-service banking, a car detailing service and two attached parking garages with covered sky bridges.
SIXTH OFFICE LOCATION
Yvonne Baker, Franklin Street’s regional managing partner for Orlando and Jacksonville, and Nicole Willerer, director of office and industrial agency leasing, represented the landlord, while CBRE Senior Vice Presidents Mike Phipps and Shay Pope worked on behalf of the tenant in the lease negotiations. Pipeline Workspaces has four other locations in Florida and one in Philadelphia.
“This lease indicates the continued interest in Orlando’s central business district by employers who are drawn to the area’s economic development and highly-educated workforce,” said Baker, in prepared remarks. “The property owner has invested heavily into improvements to the building and capitalizing on the resurgence of the entire Orlando CBD.”
The property is within walking distance to Orlando CBD government buildings, entertainment venues and hotels. The location provides direct access to major thoroughfares, including Interstate 4 and Florida State Road 408.
CBRE recently inked another office lease in Orlando at Maitland Summit Park.