Project Will Bring Creative Office, Exciting New Dining & Retail to Downtown Orlando
Third & Urban and FCP℠ have acquired 150 N. Orange Avenue, a 140,991 square foot commercial office building in downtown Orlando, FL. The renovation and repositioning of the four-story building will feature large format, class-A creative office space as well as carefully vetted dining and retail.
The Third & Urban and FCP partnership specializes in creating truly unique, mixed-use destinations. Among their recent projects are Sylvan Supply, a dynamic adaptive re-use of a former mill facility at the gateway to Nashville’s Sylvan Park neighborhood and Stockyards, which serves as the western anchor of Atlanta’s vibrant West Midtown submarket with highly amenitized, alternative office space. The latter project won the 2018 ULI Development of Excellence Award.
“We like the momentum in downtown Orlando and especially the opportunity to create something thoughtful that will greatly enhance the community,” said Pierce Lancaster, Managing Partner, Third & Urban. “Our model is to capitalize on the resurgence of Southeastern urban markets by delivering engaging places. Downtown Orlando’s renaissance is a perfect fit for Third & Urban and FCP.”
“FCP is excited to partner with Third & Urban on 150 N. Orange and continues to pursue additional commercial investments in the Orlando market,” said FCP Vice President, Liz Koteles. “We look forward to sharing more details and plans as we move forward with a creative new design for this property.” 150 N. Orange is FCP’s first commercial office investment in Florida following several years of investment in multifamily development and acquisitions throughout the state. Including multifamily, this acquisition is the firm’s third investment in Orlando and ninth in Florida since entering the market in 2015.
Nick Poole, MSRE of JLL represented the buyers in the transaction.
About FCP
FCP℠ is a privately held real estate investment company that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.
About Third & Urban
Third & Urban are Developers Building Community—modern, culture-rich adaptive reuse and urban infill that anchors people not just city blocks; that retains context, history and experience, not just tenants; and that creates culture and connection, not just ROI. The Atlanta-based company is focused in the southeastern United States, engaging in a deliberate value creation process to produce truly unique destinations and best-in-class results for office, retail and residential spaces. The firm seeks opportunities in markets that exhibit a high quality of life, a strong workforce and consistent job growth. With more than 1,200,000 square feet across the Southeast, Third & Urban has developed more than $300,000,000 in institutional grade urban projects. For more information, please visit www.thirdandurban.com.