Flagler Development Co. secured a tenant for its 137,000-square-foot office building at SouthPark Center in Orlando, Fla.

The value of the transaction was not disclosed.

Starwood Vacation Ownership, a subsidiary of Starwood Hotels and Resorts Worldwide, will occupy Building 1000 in SouthPark Center. The start of this building was announced in March 2004 and it is scheduled for completion in December 2004, at which time SVO will take occupancy of the entire building.

SouthPark Center, formerly Gran Park at SouthPark, comprises 176 acres and is planned for 2.9 million square feet of office and commercial space. Located at the intersection of John Young Parkway and Beeline Expressway, the park currently consists of 703,000 square feet of class-A office space. The office park is home to such tenants as Lockheed Martin, Marriott Vacations, CHEP and Fairfield Resorts.

John Guitar and Damien Madsen represented Flagler in this transaction. Scott Bell and Todd Davis of Lincoln Property Co. represented SVO.

Jacksonville, Fla.-based Flagler Development Co. owns, develops, leases and manages class-A office and industrial space across Florida.

***

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