Cite Partners, a Central Florida commercial real estate firm, announces three deals spanning the first three months of this year with Denholtz Associates, a Northeast-based real estate development and investment company. The first deal, the sale of Cypress Industrial Park, a historic 256,838-square-foot industrial flex portfolio located in the heart of the Central Florida industrial market, started the growing relationship between the companies in January of 2017.
"We're proud that Denholtz Associates chose to grow its investment in Central Florida and to trust us with its recent investment deals," said Matt Sullivan, managing director and principal of Cite Partners Industrial team. "These deals will capitalize on the thriving Central Florida commercial real estate market."
Cite Partners also represented Denholtz with the leasing of 100 East Pine Street, a mixed-use office building in downtown Orlando, as well as University Corporate Center, a 130,000-square-foot flex property in Winter Park. Orlando is an attractive growth market for investors due to population, infrastructure and job growth. It is partnerships like these that are driving economic growth in the area.
"Our choice to work with Cite Partners was primarily based on the team's understanding of the growing Central Florida market," said Stephen Cassidy, President of Denholtz Associates. "We strongly believe in Orlando's future, its growth, and we look forward to working with Cite Partners as we grow our portfolio in Central Florida."
Denholtz Associates' acquisition of 100 East Pine Street last year marked the latest chapter in their continued investment in the Central Florida marketplace. They have since embarked on significant renovations to the property including a completely renovated building lobby, and modern upgrades to the building's common corridors and mechanical systems, which were just completed at the end of October 2016. Improvements to exterior and interior features including a new office awning, painting of the exterior of the building, lighting of the building crown and new elevators are underway and slated for completion later in 2017.
As Cite continues to grow and gain dominance in the Central Florida commercial real estate market, there are no plans to stop. In fact, Cite recently signed a 4,984-square-foot lease at 100 E Pine with Denholtz Associates that will allow the company to grow its operation. The company recently launched its Retail Investment Sales Team with the attraction of John Kryzminski from Marcus and Millichap, who will focus on multi-tenant and single-tenant retail investment properties throughout the state of Florida. The company plans to continue growing its brokerage, consulting and property management businesses to better serve its growing customer base.
