Flagler Development Company Renews Lease for Marriott Vacations Club International in Orlando's 600 SouthPark Center
biz.yahoo.com
Thursday January 13, 1:00 pm ET
JACKSONVILLE, Fla., Jan. 13 /PRNewswire-FirstCall/ -- Flagler Development Company ("Flagler"), the wholly owned commercial real estate development subsidiary of Florida East Coast Industries, Inc. (NYSE: FLA), has renewed a lease for Marriott Vacations Club International ("Marriott Vacations") in 600 SouthPark Center in Orlando, Florida for 70,800 square feet.
"Flagler enjoys a strong partnership with Marriott Vacations and we are delighted they have decided to continue our relationship," said Chip Lilley, Senior Vice President and Regional Development Officer of Flagler Development. "SouthPark Center has achieved an occupancy rate of 97 percent and this was the last major lease scheduled to expire in 2005."
Damien Madsen, Senior Leasing Director, and John Guitar, Leasing Director, represented Flagler in this transaction. Marriott Vacations' brokers were Greg Morrison and Creighton Armstrong with Advantis Real Estate Services.
SouthPark Center, formerly Gran Park at SouthPark, is a Flagler development at SouthPark in Orlando, Florida. The business park is 176 acres and is planned for 2.9 million square feet of office and commercial space. Located at the intersection of John Young Parkway and Beeline Expressway, the park currently consists of 703,000 square feet of Class-A office space. The office park is home to such tenants as Lockheed Martin, Starwood Vacation Ownership, CHEP and Fairfield Resorts.
Flagler Development Company, headquartered in Jacksonville, FL, owns, leases and manages approximately 6.5 million square feet of Class-A office and industrial space, with 940,500 square feet under construction. Flagler's space consists of Class-A office and industrial properties, primarily in Jacksonville, Orlando, Ft. Lauderdale and Miami. In addition, Flagler owns 749 acres of entitled land in Florida, which is available for development of up to an additional 12.2 million square feet, and owns approximately 2,005 acres of other Florida properties. For more information, visit the Company's Web site at flaglerdev.com. |
