Damien Madsen and Tommy Pinel Represented the Founders of Helman Hurley Charvat Peacock Architects in the Disposition of their Former Office Building for $211 Per Square Foot
Cushman & Wakefield announced today that it has negotiated the sale of a 16,253-square-foot freestanding office building at 222 West Maitland Boulevard.
Managing Director Damien Madsen and Senior Associate Tommy Pinel represented seller Penta Partners, LLC, a group comprising the founding partners of Helman Hurley Charvat Peacock Architects (HHCP), in the sale of the asset. HHCP’s founding partners recently sold their interest in the firm but retained ownership of 222 West Maitland Boulevard. SESCO Lighting acquired the building for $3.425 million ($211 per square foot).
SESCO Lighting, the nation's largest lighting manufacturers' representative company with more than 200 employees and annual sales approaching $300 million, will relocate its Winter Park headquarters to 222 West Maitland Boulevard.
222 West Maitland Boulevard is a single-story, freestanding Class A structure developed in 1983 and completely renovated in 2005. The asset features excellent exposure with nearly 600 feet of road frontage, upgraded finishes throughout and abundant parking (fives spaces per 1,000 rentable square feet). The building was originally developed as office space, then converted for the academic purposes of Willow Schools before reverting back to office use. It was vacant at the time of sale.
222 West Maitland Boulevard is situated on a 1.71-acre parcel on West Maitland Boulevard, providing exceptional access to Interstate 4 and U.S. 17/92. This location is conveniently located near the desirable Winter Park and Maitland neighborhoods. It sits directly across Maitland Boulevard from a proposed $60 million mixed-use development that will feature 350 multifamily units and a 150,000-square-foot retail development anchored by a specialty grocer.
“We were so pleased with the professional service and spot-on advice we received from Damien and Tommy,” said Alan Helman, HHCP Active Founder. “They advised us through the entire process, which resulted in the best results we could have hoped for regarding the disposition of our property."
“It was a win-win for everyone involved,” added Helman.
According to Madsen, the building’s quality finishes, superior location and prevailing market conditions drove the strong activity and attraction to this property.
“This was a unique, contemporary offering located in one of Orlando’s hottest office markets,” said Madsen. “A tightening Class A rental market and favorable debt conditions heightened investor and user interest.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com
