Duvalla Investments Buys Fulcrum Office Building In Orlando For $9M

The Fulcrum office building in downtown Orlando, located at 150 North Orange Avenue, spans 1.15 acres and was recently sold for $9,000,000, amounting to a price per square foot of $64. The sale involved Duvalla Investments as the buyer and Pierce Lancaster & Hank Farmer from Third & Urban along with Federal Capital Partners as the sellers. The property, originally a JCPenney store from the 1960s, has a total area of 141,125 square feet.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $9,000,000
• Address: 150 North Orange Avenue
• Market: Orlando
• Square Footage: 141,125
• Buyer: Duvalla Investments
• Seller: Pierce Lancaster & Hank Farmer - Third & Urban; Federal Capital Partners

The sale of the Fulcrum office building in downtown Orlando at a price significantly below its appraised value of $20.8 million and well under what the previous owners spent on renovations in 2019 was not indicative of a broader trend in the downtown Orlando real estate market, where office vacancy rates remain relatively low compared to other major cities. The challenges surrounding the property's vacancy likely played a role in the discounted sale price.