ORLANDO, FL--(Marketwired - July 26, 2016) - Foundry Commercial, the multi-city commercial real estate firm headquartered in Orlando, has been selected by Real Capital Solutions to lease Technology Park, a Class A, 297,582 square-foot, single-story "flex" business park in Lake Mary. The asset consists of a mix of warehouse, distribution and office space.
Real Capital Solutions, a Colorado-based real estate company that focuses on acquisitions, development and management for highly complex structured real estate opportunities, purchased Technology Park for $21.3 million and plans to invest significant capital to improve vacancies. The company will also offer broker incentives in order to increase the asset's occupancy.
Justin Ruby and John Pietkiewicz with Foundry Commercial will represent Real Capital Solutions in leasing Technology Park.
"As the tech boom continues to flourish in Lake Mary, tenants will expect quality office spaces that live up to the big names they're bringing to the region," said Justin Ruby, senior vice president at Foundry Commercial. "Real Capital Solutions' ability to bring creativity to lease negotiations and their reputation for being an accommodating landlord makes them an ideal partner to fill an asset like Technology Park."
Technology Park is the fourth single-story flex business park acquired by Real Capital Solutions in Central Florida. The company has already purchased North Lake Business Park in Altamonte Springs, Heritage Business Centre in Longwood and the Airport Business Center in Orlando.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with 258 employees and nearly 40 million square feet of space under management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the Country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than $500 million in advantaged investment opportunities in partnership with its clients. Foundry Commercial was founded as CNL Commercial Real Estate in 2007 and launched as Foundry in 2015 through a management led buyout. For more information, visit www.foundrycommercial.com.
About Real Capital Solutions
Real Capital Solutions, based out of Colorado, is a solutions oriented real estate company that focuses on Acquisitions, Development and Management for highly complex and structured real estate opportunities. RCS has 30 years of operational and real estate expertise with returns that are in the top 5% of private equity real estate firms in the US. Over its 25-year history, the company has acquired over $1 billion of investment real estate and has never lost investor capital. The key to the firm's success has been a thorough understanding of the dynamics that affect the real estate cycle. With access to up to $250 million in equity, including over $100 million from the founder, Real Capital Solutions is well positioned to take advantage of the distressed assets available in today's market.