Friday, September 5, 2008

CB Richard Ellis Asset Secured Bright House Networks Expansion

ORLANDO, FL - The Orlando office of CB Richard Ellis is pleased to announce, Maitland Promenade I, (bottom left photo) owned by LaSalle Investment Management (Class A, 228,000-sq.-ft. five-story building at Maitland Center) asset secured Bright House Networks' expansion.

Michael Phipps, (top right photo) Senior Vice President, negotiated the buyout of the lease with Bank Atlantic represented by Jason Schrago of CNL Commercial Real Estate. In addition, Phipps negotiated a new 10 year lease with Bright House Networks, represented by Greg Morrison, Principal, of Morrison Commercial.

Bright House Networks is expanding into 53,000-sq.-ft. space on a new 10 year transaction taking 46,792-sq.-ft. on the third floor and an additional 6,100-sq.-ft. on the first floor. The property is located at 485 North Keller Road, Maitland, Florida.

Bank Atlantic, the existing tenant procured by Jason Schrago of CNL Commercial Real Estate, secures new space of approximately 20,000-sq.-ft. at Eastwoods, a five-story building in Maitland Center. Yvonne Baker negotiated on behalf of Highwoods Properties.

Contacts:
Angelique Greven, 407.839.3158, angelique.greven@cbre.com
Sara Brady, 407.215.5915, sara.brady@mybrighthouse.com

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