JLL Arranges $50.4M Sale of Resource Square Office Portfolio in Orlando
ORLANDO, FLA. — JLL has arranged the $50.4 million sale of Resource Square One and Three, two fully occupied buildings in Orlando’s Central Florida Research Park. A joint venture between Crocker Partners LLC and PCCP LLC purchased the assets from TerraCap Management LLC. The JLL Capital Markets team led by Ike Ojala, Hermen Rodriguez, Robbie McEwan and Matt McCormack represented the seller and procured the buyer in the transaction. JLL’s Maxx Carney and Reid Carleton worked on behalf of the buyers to secure a seven-year, floating-rate acquisition loan with Synovus Financial Corp. Totaling approximately 245,000 square feet, the buildings are located at 13501 Ingenuity Drive and 12001 Research Parkway, near University of Central Florida (UCF) and Fla. State Routes 50 and 408. Resource Square One is a three-story building constructed in 1999, and Resource Square Three is a five-story building delivered in 2003. As the largest office landlord in the state, this acquisition brings Crocker’s total assets under management in Central Florida to almost 1 million square feet.