An entity related to Georgia-based Piedmont Office Realty Trust has acquired two high-rise office buildings in downtown Orlando for $167.8 million. The deal includes CNL Plaza I, and CNL Plaza II along with their respective parking garages. CNL Plaza I is a 14-story 332,000 sqf office tower built in 1999 at 450 S. Orange Ave. and features the CNL Plaza/City Hall parking garage, a seven-story structure at 460 Boone Ave with nearly 612,000 gross square feet. The second building, CNL Plaza II, is a 12-story, 271,000 sqf office tower at 420 S. Orange Ave. with nine floors and nearly 800,000 gross square feet of parking space. Piedmont’s related entity bought the downtown Orlando properties from CNL Plaza LLC.
