{"id":1004739542,"date":"2024-12-04T23:29:08","date_gmt":"2024-12-05T07:29:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004739542"},"modified":"2024-12-05T22:13:50","modified_gmt":"2024-12-06T06:13:50","slug":"kbs-realty-lands-55-ksf-tenant-near-orlando","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/","title":{"rendered":"KBS Realty Lands 55 KSF Tenant Near Orlando"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004739557\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/maitland-promenade-ii\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Maitland Promenade II\" data-image-description=\"&lt;p&gt;Exterior shot of Maitland Promenade II in Maitland, Fla.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Maitland Promenade II came online in 2001 and is part of a two-building complex. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\" alt=\"Exterior shot of Maitland Promenade II in Maitland, Fla.\" class=\"wp-image-1004739557\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Maitland Promenade II came online in 2001 and is part of a two-building campus. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Advanced therapy initiation and patient solutions provider AssistRx signed a 54,664-square-foot lease at Maitland Promenade II, a 230,366-square-foot office building in Maitland, Fla., an Orlando submarket. KBS Realty Advisors owns the building, according to CommercialEdge.<\/p>\n\n\n\n<p>HLI Partners arranged the long-term deal on behalf of the tenant, while CBRE represented the landlord. AssistRx is expected to move in starting in the second quarter of 2025.<\/p>\n\n\n\n<p>KBS Realty Advisors acquired the asset in December 2013 for $31.2 million from Flagler, CommercialEdge shows. The property traded for some 40 percent less than in 2008.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/why-ai-firms-take-measured-approach-to-office-leasing\/\">Why AI Firms Are Taking a Measured Approach to Office Leasing<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Orlando\u2019s vacancy rate at the end of October decreased 40 basis point year-over-year, reaching 16.1 percent, according to the latest <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">CommercialEdge office report<\/a>. The metro\u2019s listing rate during the same month was $28.16, slightly below the $32.79 national figure.<\/p>\n\n\n\n<p>CBRE Senior Vice President Jay Dixon and First Vice President Colin Morrison represented the landlord. HLI Partners Principal Joe Hills worked on behalf of the tenant.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-two-building-orlando-office-campus\">A two-building Orlando office campus<\/h2>\n\n\n\n<p>The five-story, Class A building came online in 2001 and features a cafe, a three-story parking garage, a fitness center, a conference center and about 1,140 parking spaces. Additionally, the facility has 2,000 square feet of retail space and is part of a two-building campus. The other property measures 241,659 square feet and was completed two years earlier.<\/p>\n\n\n\n<p>Located at 495 N. Keller Road on more than 9 acres, Maitland Promenade II has access to Interstate 4. Downtown Orlando is 9 miles away, while Orlando Executive Airport is some 10 miles southeast.<\/p>\n\n\n\n<p>In another Orlando lease this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/piedmont-inks-182-ksf-hq-lease-in-orlando\/\">Travel + Leisure signed a 15-year, 182,000-square-foot deal<\/a> at the 501 West Church building. Piedmont Office Realty Trust owns the five-story property that came online in 2003.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A patient solutions provider is taking the space in 2025.<\/p>\n","protected":false},"author":3355,"featured_media":1004739557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,1493,32781],"tags":[32789,35334],"class_list":["post-1004739542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-orlando","category-southeast","tag-cbre","tag-kbs-realty-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>KBS Realty Lands 55 KSF Tenant Near Orlando - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"AssistRx signed a 54,664-square-foot lease at Maitland Promenade II, KBS Realty Advisors&#039; building in Maitland, Fla.\" \/>\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\/kbs-realty-lands-55-ksf-tenant-near-orlando\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KBS Realty Lands 55 KSF Tenant Near Orlando\" \/>\n<meta property=\"og:description\" content=\"AssistRx signed a 54,664-square-foot lease at Maitland Promenade II, KBS Realty Advisors&#039; building in Maitland, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/\" \/>\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=\"2024-12-05T07:29:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-06T06:13:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/kbs-realty-lands-55-ksf-tenant-near-orlando\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/\",\"name\":\"KBS Realty Lands 55 KSF Tenant Near Orlando - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\",\"datePublished\":\"2024-12-05T07:29:08+00:00\",\"dateModified\":\"2024-12-06T06:13:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"AssistRx signed a 54,664-square-foot lease at Maitland Promenade II, KBS Realty Advisors' building in Maitland, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kbs-realty-lands-55-ksf-tenant-near-orlando\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Maitland-Promenade-II.jpg\",\"width\":1000,\"height\":750,\"caption\":\"Maitland Promenade II came online in 2001 and is part of a two-building complex. 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