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IPA Arranges $29M Sale of Altamonte Springs Office Park

September 02, 2020

Institutional Property Advisors, a division of Marcus & Millichap, has brokered the $28.5 million sale of North Lake Business Park in Altamonte Springs. Douglas Mandel of IPA represented the seller, Real Capital Solutions, in the transaction. The buyer was Boston-based real estate private equity firm Taurus Investment Holdings.

Constructed between 1982 and 1987 on 29 acres, the 15-building, 270,000-square-foot business park is approximately 75% office space and 25% air-conditioned warehousing. At the time of the sale, the property was 90% leased to a mix of technology, real estate and healthcare tenants. The property is nearby downtown Orlando as well as the Altamonte Springs SunRail station.

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