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Wyndham Vacation Ownership And Lexington Realty Trust Announce New Lease At Sea Harbor Office Center In Orlando, Fla

Stocks in this article: LXP WYN


ORLANDO, Fla., and NEW YORK, Jan. 6, 2012 /PRNewswire/ -- Wyndham Vacation Ownership (WVO), a member of the Wyndham Worldwide family of companies (NYSE:WYN), and Lexington Realty Trust (NYSE:LXP) announced today that Wyndham Vacation Ownership has leased, with a 12-year term, more than 230,000 square feet of space at Sea Harbor Office Center, which is located at 6277 Sea Harbor Drive in Orlando, Fla., and owned by an affiliate of Lexington Realty Trust.    


Sea Harbor Office Center consists of an eight-story office building containing approximately 356,000 rentable square feet and a five-story parking garage; it is anticipated WVO will occupy six floors of the building.  Sea Harbor Office Center is a premier class "A" office facility, which will include a fitness center, a renovated, full-service cafeteria with outdoor seating and other first-class amenities.


While WVO is currently developing the construction and occupancy timelines and other unique workspace requirements, the new building will allow WVO to redesign its Orlando campus environment and consolidate all of its associates into one single location. It is also anticipated that the move will enable WVO to increase efficiencies, and support the culture and its core values including a strong commitment to sustainability and responsible environmental practices. WVO will seek LEED Gold Certification, having previously achieved LEED Silver Certification here in Orlando.

T. Wilson Eglin, Chief Executive Officer and President of Lexington, remarked "We are pleased to welcome such a high quality tenant such as Wyndham Vacation Ownership to Sea Harbor Office Center.  In conjunction with this lease execution, we will be commencing a comprehensive renovation of Sea Harbor Office Center consisting of a new, energy efficient HVAC system, new entry canopy and lobby, new bathrooms/core areas for every floor, enhanced access from Sea Harbor Drive, new monument signs and enhanced landscaping.  This lease represents another significant achievement for Lexington in repositioning a building that was previously 100% leased to a single tenant."


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