call for offers - due march 21...the galloway building is a seven-story, single-tenant office...
TRANSCRIPT
crexi.com/properties/88732 VIEW ONLINEFOR SALE | 850 E. Altamonte Drive
Colliers International | Central Florida255 S. Orange Avenue | Suite 1300 Orlando, FL 32801407 843 1723
Joe Rossi, CCIMExecutive Managing Director407 362 [email protected]
Thevenin J. CamptonAssociate407 362 [email protected]
CALL FOR OFFERS - DUE MARCH 21
FOR SALE | 850 E. Altamonte Drive | Orlando MSA crexi.com/properties/88732 VIEW ONLINE
FOR SALE | 850 E. Altamonte Drive | Orlando MSA crexi.com/properties/88732 VIEW ONLINE
• Stable Cash Flow & Upside Potential — Stable, in-place cash flow
from current tenant along with $125,000+ in passive income from
rooftop cellular towers and parking leases. The large parking lot
offers significant redevelopment potential in Altamonte Springs’ East
Town Center Vision Plan, located less than one mile of the Altamonte
Springs SunRail Station.
• Ideal Call Center Facility — The Property has a high parking ratio
of 5.62 per 1,000 RSF. Additionally, the building has a backup
generator capable of powering the building for two weeks. Along
with additional redundancies throughout, the Galloway Building is an
ideal building for Call Center tenants.
• Recent Capital Expenditures — Capital expenditures over the
past two years in excess of $5.1M have been completed, including
improvements to the elevators and common areas. These include
interior renovations and new build outs on all floors excluding the
sixth floor. In June 2016, the roof was re-coated and re-sealed with
a 10-year warranty.
• Excellent Access to Major Transportation Nodes and Economic Drivers — The Galloway Building is located off State Road 436
(60,000± AADT) and is less than one mile of the Altamonte Springs’
SunRail Station, Central Florida’s major commuter rail system. The
building is also less than two miles to Interstate 4 (160,000± AADT)
and U.S. Highway 17-92 (54,500±), and is located next to Florida
Hospital’s Altamonte Springs hospital.
INVESTMENT HIGHLIGHTS
The Galloway Building is a seven-story, single-tenant office building comprising 98,563± rentable square feet on 8.79 acres with extensive parking (5.62 spaces per 1,000 RSF) in Altamonte Springs, Florida. Originally constructed in 1976, extensive renovations and modernizations totaling more than $5.1M were completed since January 2016.
The building is 100% occupied by Ascenda USA, Inc., d/b/a 24-7 InTouch through December 31, 2025. 24-7 InTouch is an industry-leading provider for outsourced customer support with a clientele comprising Fortune 100 companies.
This investment opportunity also benefits from more than $125,000 per year in additional income from three rooftop leases for cellular towers from Sprint, Verizon and Clear Wireless, as well as two on-site parking leases.
In addition to the Galloway Building, Ownership is presenting the Centerpointe office building located in Clearwater, Florida, which is occupied by 24-7 InTouch and Keiser University.
SUBMIT ALL OFFERS BY MARCH 21.
N
850 E. Altamonte
Drive