Two Stirling International Brokers Close Sale and Lease of Entire 19th Floor of The Plaza’s South Tower in Orlando, FL

 

The Plaza South Tower, Downtown Orlando, FL

ORLANDO, FL – Stirling International Real Estate negotiated the sale of two class A office suites on the 19^th Floor in The Plaza South Tower at 189 South Orange Ave. to an investment firm shortly after completing a long-term lease of the same two suites to an expanding gaming company with roots in Chicago.

Brokers Roger Soderstrom Jr. and John Kurtz closed the $1,275,000 sale of suites 1930 and 1950 totaling 6,883 square feet from RCS-Plaza Office Condos LLC to Tala Loop Longwood Investments LLC.

 It was the finale of a seamless set of transactions that took nearly two years, a method to lease and sell the entire floor, according to Kurtz.

In late 2020 when Chicago gaming company Iron Galaxy’s lease for the other four suites on the floor was nearing the end of its long term, Kurtz and Soderstrom presented the tenant’s rep Andrei Savitski of CBRE with an option to buy, but they renewed the lease instead.

Stirling International Realty Brokers 
Roger Soderstrom Jr. (right)) and John Kurtz

The “power duo” then located investor/buyer Tala Loop who purchased those four suites of leased space from Stirling’s client RCS-Plaza Office Condos LLC for $­­­­­­­2,544,000.   

In 2021 when most employees were still working from home, the tenant occupying suites 1930 and 1950 - another IT firm – declined to renew its lease expiring March 2022. 

“When we notified Savitski that the remaining two suites on the floor were available to Iron Galaxy, he came back quickly with their acceptance to lease the additional suites for expansion,” Soderstrom explained.

“When Tala Loop learned that their existing lessee was expanding into the remaining space, they decided to purchase those two units as well from RCS,” Soderstrom said.

 “With the added space, Tala Loop Longwood Investments – which has offices in Lake Mary – owns the entire 19^th floor, or nearly 20,000 square feet, and Iron Galaxy occupies all of it,” he said.

 Andrei Savitski 

“This took nearly two years during the pandemic,” Kurtz said. 

“It was a waiting game for the lease to run out on two suites that were occupied by another company. Iron Galaxy – which has more than 250 employees with nearly 100 in Orlando – planned to expand further here and wanted that space.”

In the past two years, the real estate team of Kurtz and Soderstrom has sold 22 office condos in the Plaza’s two towers or more than 140,000 square feet with a sales volume of $32,000,000 and has negotiated 23 office leases for close to 97,000 square feet.

 

CONTACTS:

Roger Soderstrom Jr., Stirling International Real Estate, 407-617-2830 or roger@stirlingint.com.

John Kurtz, Stirling International Real Estate or 

407-250-1000 or JKurtz@StirlingIRE.com.

Beth Payan, Larry Vershel Communications, 

407-461-3781 or beth@larryvershel.com.