According to the Orlando Business Journal, Disney has purchased an office building in Celebration, Florida for $19.4 million.
Disney Purchases Office Building in Celebration Florida
The transaction was made on March 5 per the Osceola County records. The building is located at 1390 Celebration Boulevard in Celebration’s south village area. It was purchased by an entity registered to Walt Disney World Resort.
The property was built in 2009 and is 106,196 square feet. Disney acquired the building in an off-market deal from Celebration Advance LLC, an entity tied to Rafael Weiss and the Jeffrey J Weiss Living Trust in Boca Raton, Florida.
Gary Eisenberg, executive manager at Suchman Retail Group in Miami and founder of SouthEast Atlantic Reality Group, told Orlando Business Journal that the deal was “an arm’s length transaction that’s a perfect agreement between a tenant and owner.” He went on to say, “It’s been a well-maintained property over the years with good ownership at a good location.”
In recent years, Disney has leased the property for its real estate and Disne Vacation Club divisions. Disney did not respond to a request for comment regarding the transaction.
However, this is not the first time Disney has purchased property in Celebration. In 2014, Disney purchased a 39% stake in a nine-story office building in the area.
Walt Disney World Resort currently ranks as the fourth largest employer of Osceola County residents. Those who rank ahead of Walt Disney World Resort include The School District of Osceola County, Walmart, and AdventHealth.
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