The Top Floor of Downtown Orlando’s Plaza South Office Tower Sells for $2.7M
Text by Amanda Rabines
Full article link in GrowthSpotter.
Image above: An aerial view of the penthouse suite patio space on the top floor of the 21-story Plaza South Tower at 189 S. Orange Avenue.
A former e-cigarette exec just secured the entire top floor of one of downtown Orlando’s more notable office developments.
According to a deed recorded in Orange County, businessman Adrian Everett paid $2.7 million for the office penthouse suite within the 21-story Plaza South Tower at 189 S. Orange Avenue.
Everett is the former CEO of E-Lites, an e-cigarette company he launched in the United Kingdom in 2009 and later sold to Japanese Tobacco International in 2014. Today, the brand is known as Logic Vapes.
Ben Becton with Keller Williams Realty of Lakeland represented the buyer. He told GrowthSpotter his client is planning to remodel the penthouse office suite, in anticipation of announcing a new operation at the site sometime later this year. The remodel may not take too long, with the suites already appointed to a modern standard, but a contractor similar to Multi-M Contracting, Inc may be able to transform the space into a state-of-the-art office in keeping with its incredible location.
Adding modern architectural elements to the offices, bathrooms, and lobbies of such buildings is part of the remodeling process. Companies tend to include the latest technology in certain parts of the building so that it becomes much more efficient. Businesses these days are adopting greener practices to be more environmentally friendly. For example, it can be observed that companies are considering installing upvc double glazed windows and doors to reduce the usage of other heating solutions, like AC systems, which tend to consume a lot of electricity.
The office-condo consists of 10,891 square feet of air-conditioned office space and a 10,000-square-foot wrap-around rooftop terrace.
Features include more than 16 private offices, floor-to-ceiling windows, a private elevator lobby, and a private patio with glass railings and all-around views of downtown Orlando. It has not been said yet if individual office owners will incorporate other tech like a samsung portrait tv into their new spaces, but that will be up to them when they come to move in.
An inside look of an office within the penthouse suite at Plaza South Tower.
John Kurtz and Roger Soderstrom, Jr. of Stirling International Real Estate negotiated the sale on behalf of the seller RSC Plaza Office Condos, which is an affiliate of Colorado-based Real Capital Solutions.
RSC controls more than 83,000 square feet within the mixed-use development located between East Pine Street and Church Street, just along South Orange Avenue.
Kurtz said the suite was formerly occupied by a financial firm that moved out in late December. The office unit hit the market about four months ago asking for more than $2.9 million.
“We had quite a few people looking at it, Kurtz said. “The owner ended up selecting this buyer because of the terms and their ability close quickly on it.”
It was an all-cash deal, Kurtz said.
The trade takes place just a couple of months after British financial tech company Epos Now acquired nearly half of the 20th floor of the Plaza South Tower.
Occupancy at the development is over 90 percent, Kurtz said. The office tower is made up of a mix of architecture, engineering and technology firms.