Gables firm is building spec offices in Orlando

Miami /
Nov.November 13, 2016 12:00 PM

Coral Gables-based Megastron Development LLC broke ground for the second phase of a speculative office development on International Drive in Orlando.

Megastron has started construction of a 134,000-square-foot office building called Kirkman Point II without tenant leases in hand. Estimates of the cost of the construction project range from $20 million to $25 million.

Megastron expects to finish construction and open the four-story office building by the fourth quarter of 2017. The leasing agents for Kirkman Point II are Jay Dixon an Tom Rich of CBRE Inc. in Orlando.

Megastron in 2011 finished the first phase of the Kirkman Point office development at the intersection of Kirkman Road and International Drive in the Orlando area’s tourism district.

The first phase, also a spec office development, unfolded during the recession in the late 2000s. Now the first-phase office building, called Kirkman Point, is fully leased. Walt Disney Parks & Resorts occupies the top three floors.

When the second phase of the office property is finished, the two-building Kirkman Point development will span more than 600,000 square feet. [Orlando Business Journal] —  Mike Seemuth


Related Articles

arrow_forward_ios
Renderings of the Sunset Harbour project with Marc Rowan and Deco Capital Group's Bradley Colmer (Linkedin, Getty)
Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
Ronny Finvarb and a rendering of the hotel (GEK Architecture)
Miami Beach residents rally against proposed hotel in Sunset Harbour
Miami Beach residents rally against proposed hotel in Sunset Harbour
1260 Washington Avenue and 1234 Washington Avenue with Location Ventures CEO Rishi Kapoor (Google Maps, Location Ventures)
Location Ventures buys South Beach office, retail property for $20M
Location Ventures buys South Beach office, retail property for $20M
Clockwise from left: Citigroup Center at at 201 South Biscayne Boulevard, Monarch Alternative Capital CEO Michael Weinstock, Crocker Partners’ Angelo Bianco (Daniel Christensen/Wikipedia, Monarch, Crocker Partners)
Monarch paying $300M for downtown Miami office tower
Monarch paying $300M for downtown Miami office tower
Banyan Street Capital CEO Rudy Prio Touzet and KBS CEO Charles Schreiber Jr. with Weston Corporate Center (KBS)
Banyan Street Capital buys Weston office complex for $52M
Banyan Street Capital buys Weston office complex for $52M
830 Brickell and 401 E Las Olas Blvd (Google Maps)
Lease roundup: Thoma Bravo signs major lease in Brickell & more
Lease roundup: Thoma Bravo signs major lease in Brickell & more
ABS National Business Parks manager Gregg Schenker, Stiles CEO Kenneth Stiles and Garden Plaza in Palm Beach Gardens (CBRE, Stiles, ABS)
Stiles sells Palm Beach Gardens office complex for $31M
Stiles sells Palm Beach Gardens office complex for $31M
Midtown Capital Partners managing partner Alejandro Velez (Cushman & Wakefield, Midtown Capital)
Midtown Capital Partners buys Plantation office building for $78M
Midtown Capital Partners buys Plantation office building for $78M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...