Opus South green lights third Quadrangle project - Orlando Business Journal:

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The three-story, 103,996-square-foot office building will be in the hearr ofThe Quadrangle, off Corporate Boulevard near the University of Central Florida and the Central Floridaz Research Park. The Class A speculative office buildinbg marks the third facility Opus will have developed ther and is part ofOpus South's renewed focuds in Orlando and other parts of Florida in developing office buildings, company officials say. "We've been focusingf on doing large downtown mixed use, and residentia l and retail.
Now that the office market is reallgy pickingup steam, we're settinyg our sights on office opportunitiews again," says Bill West, director of real estate for Opus In fact, West says, Opus South decided to develoo its third Class A office building in the submarke t based on the success of its previouw two. The firm's first University Corporate Center I, was finishef in 1999 and is a three-story, 124,000-square-foot, 100 percent-leasedf building, says Greg who leads the Orlando office ofGVA Advantis, which has handledr leasing for the building for the last three years.
Opus South'es University Corporate Center II, built in is a three-story, 103,996-square-foot building that is 92 percent leased. Morrison says the plans for the thirxbuilding couldn't come at a more opportune time. Officre space within the submarket is performing and more space that comes on the marke there isgetting absorbed, he A third-quarter office report by GVA Advantis shows the University/Research submarket has had the second-greatest impact on the Orlandoi area's office market so far this year.
Throughb the third quarter, 218,083 square feet was leaseed inthat submarket, representing 16 percent of the tota space that came on the market and was lease d throughout the region, the report Another plus for the project's timing, Morrison is the fact that the submarket doesn't have a buildingv of the type or size Opus South is proposingh to build currently available or undeer construction. That, the industry pro says, only adds to its Add all of thosefactors up, he and "we certainly expect to be successful at leasiny that building." As to future projects, look for Opus Soutu to develop more retail, mixed use and industrial spacre in the metro area in 2007, West says.
"We'rre looking to re-establish our presence in the Orlando market." Parenty company: The Opus a $1.4 billion national real estate developmeny company that has completed morethan 2,200 office, industrial and retail projects nationally Develops office, retail, industrial, mixed use, residential projects in the South Local projects: University Corporate Center III, Shoppes of Four Corners in Davenport