Press Release: RCS Acquires Wickham Commons in Melbourne, FL
Contact: Adam Abeln, Vice President - Acquisitions
FOR IMMEDIATE RELEASE
REAL CAPITAL SOLUTIONS ACQUIRES WICKHAM COMMONS
IN MELBOURNE, FL
Well-Positioned Office Park Located in the Heart of Florida’s Space Coast
Real Capital Solutions announced earlier this month the purchase of Wickham Commons, an 81,318 square foot, six-building office park located in Melbourne, Florida. Situated in the heart of Florida’s Space Coast, the property is ideally located with convenient access to I-95 by way of Wickham Road. The property recently underwent over $1 million in renovations including two new roofs, HVAC replacements, and recent seal and stripe of the parking lots. Due to the number of buildings and space types, new and existing tenants are easily accommodated and there is the availability to lease entire buildings ranging in size from 6,000 to 8,824 square feet.
This is the second recent acquisition of an office building in Melbourne for Real Capital Solutions (“RCS”). RCS purchased Rialto Place, a 10-story office building located at 100 Rialto Place in August 2018.
“We are excited for the opportunity to purchase another Class-A office building in Melbourne,” said Adam Abeln, VP of Acquisitions. “The property has attracted several of the area’s most noteworthy companies in a tight office market experiencing strong fundamental tailwinds. The Melbourne office market vacancy currently stands at 6.6% and the market is positioned for significant growth going forward with strong barriers to entry.”
The diversified tenant base include businesses in the fields of technology, financial services, health care, and law offices, among others. The property is currently 73 percent leased. The current tenants enjoy several amenities including access to exceptional executive housing options and being within walking distance of many restaurants including Chick-Fil-A, McDonald’s, Uno’s, Sonny’s BBQ, Perkins, Wendy’s and more.
About Real Capital Solutions
Real Capital Solutions is a highly entrepreneurial real estate company that invests smart capital and provides practical solutions for real estate opportunities. For over 30 years, RCS has achieved great success investing in entrepreneurial real estate ventures. During that time, the company has purchased and managed more than 365 real estate investments totaling approximately $3.5 billion. Real Capital Solutions’ investment performance is a result of a solutions-oriented approach to property acquisition, development, management and divestiture. RCS will continue to produce exceptional returns for its investors by working with operating partners that share the same entrepreneurial drive and operational precision in order to achieve extraordinary performance. Learn more at https://realcapitalsolutions.com.
Our Mission at Real Capital Solutions includes a strong focus on giving back. Marcel Arsenault, CEO and Founder, and his wife, Cynda Collins Arsenault, have endowed three foundations during the past decade, including the One Earth Future Foundation in Broomfield, Colorado. One Earth Future seeks to develop and operate multi-level, multi-stakeholder engagement to bring empirical solutions to global problems. Learn more at https://oneearthfuture.org/.