Report: Lake Mary leads office leasing

Lake Mary led Central Florida for office leasing in the second quarter, according to a new report by Cushman & Wakefield. The suburban area known for attracting and

finished the quarter with almost 300,000 square feet of new leases. Maitland was second with about 164,000 square feet of leasing.

The most expensive office rental market in the Orlando area for the quarter was the Lake Nona/airport area, where rents averaged about $30 per square foot and surpassed downtown Orlando average rents of $26. The most affordable pocket of the Orlando area for office rentals was Altamonte Springs, where rents averaged $16.33. The only significant block of new office space being constructed is in the tourist corridor, where more than 220,000 square feet was underway in the second quarter. that charges such a tax and the state’s business community has been lobbying against it for years. Florida charges 6 percent in sales tax on business rent and the new measure (HB 7109) drops that to 5.8 percent.

President Maria Wells said the tax cut “puts $61 million back in the hands of businesses.” broke ground for the new $17.5 million

which is at 1701 Ball Park Road, Kissimmee. Developed by

Lake Mary, the threestory, 107,000-square-foot facility will include 128 assisted-living and memory care units. The project was designed by

Altamonte Springs. Construction is slated for completion in August 2018. memory care center at 404 Lakeview Road in Winter Garden. Buyers paid real estate taxes for a purchase of $17.8 million, records show. The 108-bed facility sits on 9 acres and last sold for $5.8 million in 2005 to a group out of Chevy Chase, Md., which completed an expansion in 2008, records show. purchased Volusia Marketplace, with 131,361 square feet of shopping, at 2400 W. International Speedway Blvd. in Daytona Beach for $20.65 million. Capital Markets Group, including John K. Crotty, Joshua Ladle, Steve Tanner, and Ray Hayhurst, brokered the sale. Tenants include