Auction of 61,545-SF 10th Floor in the Plaza could bring new Boutique Hotel to Downtown Orlando

ORLANDO, FL --- Bidders eyeing the bankruptcy auction Nov. 19 of 12 office condominium suites that total 61,545 square feet of space on the 10th floor of The Plaza towers (top right photo) on Church St. and Orange Ave. in downtown Orlando may bring a new boutique hotel to downtown Orlando.

Lori Chipps, (bottom left photo)  auctioneer with Worldwide Auction Realty Services, the firm auctioning the property, said developer Cameron Kuhn (middle left photo) originally developed a concept plan for the space---the largest single floor plate available in the downtown Orlando area---as a boutique hotel.

“The hotel concept plan that was generated offers 64 studio and one bedroom hotel suites, front desk lobby, bar/lounge, service area and housekeeping space,” Chipps said. “This would make a very nice size boutique hotel or possibly even a condominium hotel, especially when you consider that The Plaza is within two blocks of the event center and Performing Arts Center.

The Plaza towers also offer restaurants, cafés, retail, and a 12-screen cinema.

Commercial condominiums to be auctioned range in size from 2,585 square feet to 7,285 square feet including four private balconies, and feature floor-to-ceiling window views of the downtown Orlando skyline.

“The space to be auctioned spans both the north and south towers including the connecting area between the two towers,” said Chipps.

The bankruptcy absolute auction will accept bids on individual suites, multiple suites or bulk purchase of all 12 suites.

Stirling Sotheby’s International Realty Auction Services conducted an auction of 55,000 square feet of office condominium space in the Plaza towers in May of 2008 that brought an average sale price of $162 per square foot.

The Plaza’s two towers total 394,000 square feet of office space, 105,000 square feet of retail/restaurant space, the 12-screen Plaza Cinema and café on the ground floor and 306 residential condominiums in the Solair tower.

The auction will be conducted live on site starting at 5 p.m. and bids will be accepted by telephone and on the Internet. For more information about the auction or to register to bid live or online, telephone 800-327-1048 or visit http://www.wwauctionservices.com/.

For more information, contact
Lori or Jon Chipps, Worldwide Auction Realty Services, 800 327-1048;
Roger Soderstrom, Stirling Sotheby’s International Realty, 407-581-7890;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407 644-4142.