Thursday, May 23, 2019

Casselberry, FL Office Building, 42,098 Square Feet, Trades for $3.9 Million

950 Building, 42,098 Square Feet, Corner of Red Bug Lake Road and South Winter Park Drive, Casselberry, FL
Ray Turchi

Casselberry, FL, May 23, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of The 950 Building, a roughly 42,098 square foot professional office building located in Casselberry, FL, according to Justin W. West, vice president/regional manager of the firm’s Orlando office. 

The asset sold for $3,926,075.

David Vaughan, Nicholas Hanson and Ray Turchi, investment specialists in Marcus & Millichap’s Orlando office, exclusively represented both the buyer and seller in this transaction – both private individuals.

David
Vaughan
The 950 Building is a three-story office building situated on 2.19 acres with street frontage and high visibility on the corner of Red Bug Lake Road and S Winter Park Drive. 

The current occupancy is 85 percent, providing value-add upside to the new buyer through the leasing up of vacant space. Built in 1985, the property has undergone considerable renovations in recent years providing tenants with an upscale work environment.

Nicholas
 Hanson

CONTACTS:

Justin W. West
Vice President / Regional Manager, Orlando
(407) 557-3800



Ocea Huggins
Operations Manager – Orlando and Jacksonville
Marcus & Millichap
300 South Orange Avenue
Suite 700
Orlando, FL 32801
(407) 557-3840 direct
(407) 557-3800 main
(407) 927-0313 mobile
(407) 557-3810
ocea.huggins@marcusmillichap.com



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