Orlando, FL (PRWEB) June 19, 2011
Tower Realty Partners, Inc. negotiated a 10-Year, 65,044 square foot lease renewal with the General Services Administration (GSA) at the Research Commons Building in Orlando’s Central Florida Research Park (CFRP). The aggregate gross lease value totaled nearly $19 million making it one of the largest leases in recent history in Orlando.
Tiffany Zullo of Tower Realty Partners, Inc. represented the Landlord, a joint venture between DRA Advisors LLC and Tower Realty Partners, Inc. Contracting Officer, Jamie Thompson of the General Service Administration represented the tenant. “It took a long time with several iterations but the final agreement represented a win/win transaction for both parties,” stated Zullo. “Jamie’s assistance was instrumental in securing this renewal.”
“Central Florida Research Park’s Executive Director Joe Wallace and its Board of Directors should be recognized for advancing the CFRP as the capital of simulation training in the country. The CFRP is one of the great business stories in Central Florida of the last twenty years and represents a gigantic economic engine for Central Florida,” stated Tower’s President Reid Berman.
Research Commons (12249 Science Drive, Orlando), a 130,000 square foot office building, is located along Orlando’s technology corridor near the University of Central Florida.
About DRA Advisors
DRA Advisors is a registered investment advisor specializing in real estate investment and management services for institutional and private investors. DRA currently has over $9 billion in assets under management. Since 1986, DRA's focus has been consistent: conservative, value-added real estate investments in the office, retail, multi-family and industrial sectors in the United States. DRA's acquisitions since inception include 900 properties valued over $18 billion. http://www.draadvisors.com
About Tower Realty Partners
Tower Realty Partners is an Orlando-based commercial real estate owner focusing on value-added opportunities throughout Florida. Tower was formed in 1987 by Cliff Stein and Reid Berman. Since its inception, Tower has acquired over $1 billion of office properties. Currently Tower’s assets consist of over 3.5 million square feet of office property throughout Florida. http://www.towerrealtypartners.com