{"id":1004753051,"date":"2025-04-02T02:42:36","date_gmt":"2025-04-02T10:42:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004753051"},"modified":"2025-04-02T04:53:11","modified_gmt":"2025-04-02T12:53:11","slug":"general-dynamics-renews-50-ksf-office-lease-in-orlando","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/general-dynamics-renews-50-ksf-office-lease-in-orlando\/","title":{"rendered":"CP Group Signs 50 KSF Office Renewal in 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\/2025\/04\/Resource-Square-III.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004753053\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/general-dynamics-renews-50-ksf-office-lease-in-orlando\/resource-square-iii-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Resource-Square-III.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=\"Resource Square III\" data-image-description=\"&lt;p&gt;Exterior shot of Resource Park III, a three-story building with white and brown fa\u00e7ade. The building is surrounded by parking spaces.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Resource Park III rises five stories and came online in 2003. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Resource-Square-III.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Resource-Square-III.jpg\" alt=\"Exterior shot of Resource Square III, a three-story building with white and brown facade. The building is surrounded by parking spaces.\" class=\"wp-image-1004753053\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Resource-Square-III.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Resource-Square-III.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Resource-Square-III.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Resource Square III rises five stories and came online in 2003. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>General Dynamics has renewed a 50,368-square-foot lease at Resource Square III, a 154,161-square-foot office building in Orlando, Fla. CBRE represented the tenant, while JLL worked on behalf of the landlord, CP Group.<\/p>\n\n\n\n<p>The low-rise is part of a two-building campus spanning 245,000 square feet. Located at 12001 Research&nbsp;Parkway within the Central Florida Research Park\u2014a 58-building, 1,027-acre business park\u2014the property is some 14 miles from downtown Orlando.<\/p>\n\n\n\n<p>CP Group acquired the complex in January 2020 for $50.4 million from TerraCap, according to CommercialEdge information. The company also assumed the $25.7 million outstanding balance of a loan originated by Synovus Bank in 2018.<\/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>LISTEN TO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/fti-experts-hub-how-would-employees-react-to-return-to-office-rules\/\">How Would Employees React to Return-to-Office Rules?<\/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 office vacancy rate at the end of February clocked in at 16.9 percent, 20 basis points lower year-over-year, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-office-report-march-2025\/\">CommercialEdge office report<\/a>. The metro\u2019s listing rate of $28.3 was 17.4 percent higher compared to February 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-renovated-office-campus-in-orlando\">A renovated office campus in Orlando<\/h2>\n\n\n\n<p>CP Group implemented extensive upgrades at the campus, including outdoor seating, lakefront gazebo, lobby and common-area improvements, as well as customized move-in-ready spec suites. Other amenities include fitness centers in both buildings, food trucks and nature trails.<\/p>\n\n\n\n<p>The five-story Resource Square III came online in 2003. The low-rise has floorplates averaging 30,833 square feet and more than 770 parking spaces, as well as three passenger elevators.<\/p>\n\n\n\n<p>The other facility, Resource Square I, spans 90,667 square feet. Completed in 1999, the three-story building has floorplans averaging 30,222 square feet, two passenger elevators and more than 450 parking spaces.<\/p>\n\n\n\n<p>CBRE Senior Managing Director Diane Drobia and Senior Vice President Chris Sproles represented the tenant. JLL Senior Associate Madison Kimbell brokered the deal on behalf of the landlord.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant occupies space within a 1,000-acre business park.<\/p>\n","protected":false},"author":3355,"featured_media":1004753053,"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":[32789,51165,32796],"class_list":["post-1004753051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-orlando","category-southeast","tag-cbre","tag-cp-group","tag-jll"],"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>CP Group Signs 50 KSF Office Renewal in Orlando - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"General Dynamics renewed a 50,368-square-foot lease at CP Group&#039;s Research Square I &amp; 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