Matawan-based real estate development, investment and management company Denholtz Associates announced on Tuesday it has negotiated three new industrial/flex leases at the Parkway Commerce Center in Orlando, Florida.
Tenants will include Cat5 Resources LLC for 3,750 square feet, Rapid Estate Liquidators LLC for 3,758 square feet and Acceptance LLC for 2,250 square feet.
Parkway Commerce Center, which is currently 84% leased by 27 tenants, is a two-building, 92,575-square-foot industrial flex property that offers access to nearby Downtown Orlando’s central business district. The property provides convenient access to State Route 434, U.S. Highway 441 and Interstate 4. Orlando International Airport is less than 12 miles from the property.
“When we acquired Parkway Commerce Center in 2017, the property had a lower occupancy than that of our other Orlando holdings, but our experience with stabilizing multi-tenant properties enabled us to market the space to return the property to high occupancy and profitability,” Christina Jordan, director of leasing at Denholtz Associates, said. “As with every one of our properties, tenant service and skillful ownership helps drive tenant retention and satisfaction at Parkway Commerce Center, which is vital to the continued success.”
Denholtz Associates was represented by Jones Lang LaSalle’s Kristin Bailey in the transactions.
Financial terms were not disclosed.