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
Miami-Dade office vacancies plateaued in 2021, while asking rents kept rising
Miami-Dade office vacancies plateaued in 2021, while asking rents kept rising
Miami-Dade office vacancies plateaued in 2021, while asking rents kept rising
Midtown Capital Partners nabs West Palm business park for $37M
Midtown Capital Partners nabs West Palm business park for $37M
Midtown Capital Partners nabs West Palm business park for $37M
Ofizzina office tower in Coral Gables (TSG)
Lease roundup: Consulate General of Barbados, NY investment firm moving to Ofizzina in Coral Gables
Lease roundup: Consulate General of Barbados, NY investment firm moving to Ofizzina in Coral Gables
Eastdil Secured’s D. Michael Van Konynenburg and Roy March with The Brickell Bay tower at 1001 Brickell Bay Drive (Eastdil, 1001 Brickell Bay)
Eastdil Secured to open first Florida office in Miami’s Brickell
Eastdil Secured to open first Florida office in Miami’s Brickell
RFR Holding's Aby Rosen (Getty), East End Capital's Jonathon Yormak (East End Capital) and 100 Biscayne Boulevard (iStock)
Aby Rosen’s RFR buys 100 Biscayne office tower in downtown Miami for about $90M: sources
Aby Rosen’s RFR buys 100 Biscayne office tower in downtown Miami for about $90M: sources
Atlantic Business Center, at 2201-2283 SW 2nd Street in Pompano Beach (Cushman & Wakefield)
Argentine brothers buy Pompano Beach office complex for $8M
Argentine brothers buy Pompano Beach office complex for $8M
Elliot Stone of Royal Castle Companies (FIU Foundation, LoopNet)
Royal Castle Companies buys offices at Boca’s Park at Broken Sound
Royal Castle Companies buys offices at Boca’s Park at Broken Sound
L&L Holding's David Levinson and Robert Lapidus, Carpe Real Estate Partners' Erik Rutter and David Weitz with a rendering of the project (James Corner Field Operations, L&L, Carpe)
Developers buy former Rubell site in Wynwood, plan major mixed-use project
Developers buy former Rubell site in Wynwood, plan major mixed-use project
arrow_forward_ios

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

Loading...