{"id":1004554903,"date":"2021-10-20T03:10:48","date_gmt":"2021-10-20T11:10:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004554903"},"modified":"2022-12-08T18:04:36","modified_gmt":"2022-12-09T02:04:36","slug":"jv-pays-54m-for-siemens-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-pays-54m-for-siemens-building\/","title":{"rendered":"JV Pays $54M for Siemens Building"},"content":{"rendered":"
\"\"<\/a>

11842 Corporate Blvd. Image courtesy of Cushman & Wakefield<\/p><\/div>\n

Arbah Capital has teamed up with Hampshire Stateside to acquire Siemens Quadrangle III, an office building comprising 226,548 square feet in Orlando, Fla. The joint venture partners paid $54 million to Real Capital Solutions for the property, Orange County data shows.<\/p>\n

CBRE worked on behalf of the seller, while Cushman & Wakefield represented the buyers. The latter also secured $35.1 million in Shariah compliant acquisition financing for Arbah Capital and Hampshire Stateside through Ameris Bank.<\/p>\n

The single-tenant building last came under new ownership in 2019, when Siemens Corp. traded the four-story property in a sale leaseback deal for $53.8 million, CommercialEdge data shows. Real Capital Solutions funded the purchase, its largest acquisition at the time, with a $41.5 loan originated by CIBC Bank USA.<\/p>\n

Located at 11842 Corporate Blvd., the office building was completed in 2003 and is now part of Siemens\u2019 Energy Service division within the Quadrangle Business Park. The neighboring 4400 North Alafaya Trail is owned by Stockbridge Capital Group and serves as the German multinational company\u2019s headquarters for the division.<\/p>\n

While downtown Orlando is some 14 miles southwest, the property is just across the street from University of Central Florida. UCF and Siemens have often collaborated in a variety of projects related to the energy field, including the UCF Smart Infrastructure Data Analytics Lab, aimed at improving smart buildings.<\/p>\n

Orlando\u2019s office outlook<\/h2>\n

A generally positive outlook is returning for commercial real estate, according to respondents to NAIOP\u2019s fall 2021 survey that showed its Sentiment Index<\/a> rise to 56, a level not seen since before the pandemic. This optimism is reflected within the Greater Orlando\u2019s office market, where vacancy remained 20 basis points below the U.S. average of 15.4 percent as of August. Meanwhile, listing rates rose 3.5 percent year-over-year, almost three times the national average, the latest CommercialEdge data shows.<\/p>\n

Despite a shrinking supply pipeline nationwide as of September, large projects in metro Orlando move forward. The Walt Disney Co. has recently acquired approximately 60 acres of vacant land within Orlando\u2019s Lake Nona master-planned community. The company plans to relocate more than 2,000 employees to the new regional campus, which is scheduled for completion toward the end of 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield represented the partnership and secured financing for the acquisition.<\/p>\n","protected":false},"author":1763,"featured_media":1004554906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747],"tags":[49735,32789,32799,37909,36515],"class_list":["post-1004554903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","tag-ameris-bank","tag-cbre","tag-cushman-wakefield","tag-real-capital-solutions","tag-siemens"],"acf":[],"yoast_head":"\nJV Pays $54M for Siemens Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-pays-54m-for-siemens-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Pays $54M for Siemens Building\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield represented the partnership and secured financing for the acquisition.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-pays-54m-for-siemens-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-20T11:10:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:04:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/11842-Corporate-Boulevard-e1634711957292.png\" \/>\n\t<meta property=\"og:image:width\" content=\"923\" \/>\n\t<meta property=\"og:image:height\" content=\"692\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-pays-54m-for-siemens-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jv-pays-54m-for-siemens-building\/\",\"name\":\"JV Pays $54M for Siemens Building - 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