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Piedmont Office Realty Trust Leases 182,000 SF Orlando Office To Travel & Leisure

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Greg KatzMichael (Mike) PhippsColin MorrisonJason WarrenMike Hopper

$0

LEASED
Greg Katz
Michael (Mike) Phipps
Colin Morrison
+ 2

Florida

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Office182,000 SF
Leased 05/15/2024
the dealplayerscompscontact
Traded Logo
Greg KatzMichael (Mike) PhippsColin MorrisonJason WarrenMike Hopper

$0

LEASED

Piedmont Office Realty Trust Leases 182,000 SF Orlando Office To Travel & Leisure

501 Church Street

See Similar Deals
Office182,000 SF
Leased 05/15/2024
Greg Katz
Michael (Mike) Phipps
Colin Morrison
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:182,000 SF
Transaction Type:Lease

The property at 501 Church Street in Orlando is an office building spanning 182,000 square feet. The lease transaction involves the landlord, Alex Valente & Ben Mullenix of Piedmont Office Realty Trust, and the tenant, Travel + Leisure.

Summary of transaction details:

Piedmont Office Realty Trust secured the lease with Travel + Leisure at 501 Church Street in Orlando, marking a significant transaction as the largest downtown office lease since 2019. The City approved over $6 million in incentives for the relocation, and Travel + Leisure is set to employ over 900 individuals at the site beginning in 2025.

Players

Greg Katz
Stream Realty Partners⁠
Greg Katz
5 deals(305) 350-0922
BROKER
Michael (Mike) Phipps
CBRE
Michael Phipps
4 deals(407) 616-5810
BROKER
Colin Morrison
CBRE
Colin Morrison
2 deals(407) 702-5641
BROKER
Jason Warren
Stream Realty Partners⁠
Jason Warren
1 deal(609) 330-5522
BROKER
Mike Hopper
Newmark
Mike Hopper
1 deal(704) 208-5247
BROKER

Details

LEASED
IMAGE: 05/15/2024 ADDRESS: 501 Church Street MARKET: Orlando ASSET TYPE: Office ~ SF: 182,000 LANDLORD: Alex Valente & Ben Mullenix - Piedmont Office Realty Trust TENANT: Travel + Leisure LANDLORD'S REP: Colin Morrison, Michael Phipps - CBRE; Greg Katz & Jason Warren - Stream Realty Partners⁠ TENANT'S REP: Mike Hopper - Newmark NOTE: Piedmont Office Realty Trust secured a 182,000-square-foot lease with Travel + Leisure at 501 West Church Street in Orlando, marking the largest downtown office lease since 2019. The City approved over $6 million in incentives for the relocation, and Travel + Leisure will employ over 900 people at the site starting in 2025. ⁠

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Deal Type
Effective Rent (Annual)

$10,432,130.17

Total Lease Value

$104,321,301.73

Net Landlord Cash Flow$10,432,130.17