20 N Orange Ave

20 North Orange Avenue is a 279,780-square-foot office tower located in downtown Orlando’s central business district. The property has been sold for $63 million, reflecting the market value in Orlando. The office tower comprises 16 stories and features two structured parking garages connected by covered sky bridges. It was built in 1983 and underwent approximately $5.3 million in capital improvements during the previous ownership, raising occupancy from 73 percent to 90 percent.

Summary of transaction details:

• Property Type: Office Tower
• Transaction Amount: $63,000,000.00
• Address: 20 N Orange Ave, Orlando, FL, 32801
• Market: Orlando
• Seller: Steelbridge Capital
• Buyer: Banyan Street Capital
• Seller's Representative: Brooke Tulley, Dominic Montazemi - Cushman & Wakefield

The deal involved Cushman & Wakefield's Mike Davis, Rick Colon, Rick Brugge, and Dominic Montazemi, supported by Zach Eicholtz, Ryan Jenkins, and Brooke Tulley, who represented the selling partnership. The new ownership includes Banyan Street Capital in joint venture with a fund managed by DRA Advisors. Robert Kellogg, Todd Davis, and Colin Morrison of Cushman & Wakefield have been assigned to lease the property, which is situated near notable locations including Amway Center, Church Street, and Dr. Phillips Center for the Performing Arts.