Ten Capital Management has completed the acquisition of five buildings in Technology Park, located at 100, 200, 250, 255 & 525 Technology Parkway in Lake Mary, Fla. Somerset Properties is a co-general partner on the transaction.
The property is the preferred location for several healthcare, technology and business-services tenants, many of which have demonstrated long-term loyalty to the location, and use the property as headquarters. The 297,386-square-foot, five-building flex-office/light-industrial facility is in one of suburban Orlando’s most desirable business-friendly submarkets. Recent leasing activity at the property has resulted in more than 91,000 square feet of new tenants over the last 12 months.
The office market in the area is thriving, with a current vacancy of 9.6 percent — consistently outperforming the overall Orlando MSA by a significant margin. Currently 87 percent leased to 16 high-quality tenants, the property offers excellent access to I
