NAI Realvest Negotiates $9.45 Million Purchase of Orlando Multi-Tenant Business Park, Retained to Lease and Manage
ORLANDO, Fla. --- NAI Realvest recently closed on the $9,450,000.00 acquisition of Heaven III, multi-tenant business park with 109,344 square feet of flex space located at 6925 Lake Ellenor Drive, at the intersection of W. Lancaster Road in southwest Orlando Central Park.
Michael Heidrich, principal at NAI Realvest negotiated the off-market purchase on behalf of the buyer Heaven 3 RE, LLC which includes investors Michael and James Kramer of Miami. Buyers have worked with Heidrich and NAI Realvest to identify target commercial real estate assets and increase their Central Florida holdings.
The “Heaven” brand was established by Developer/Seller Brett Kingstone CEO of Heaven III, LLC to signify the level of high-tech amenities in the buildings including fiber optics, LED lighting, biometric locks and Internet surveillance. Seller has developed several similar commercial properties in the Orlando area.
Heidrich said the new owners whose other Central Florida properties include the Realvest-developed Monroe CommerCenter South in Sanford and Goldenrod and Hanging Moss CommerCenters in Orlando, have retained NAI Realvest to handle leasing and management of Heaven III as well.
The six-building campus built in 1975 and renovated in 2014-2015 is nearly 100 percent leased. Major long-term tenants include Chubb Insurance, Bostwick Laboratories and Davita Renal Healthcare.
Heidrich and his brokerage team will handle leasing for Heaven III and NAI Realvest Senior Property Manager Catherine Mallory, with more than 20 years of experience, will head up the property management responsibilities for the 8.8-acre property and its office/showroom and flex buildings including three that are fully leased.