Deal is one of few large leases to be executed in the midst of the COVID-19 pandemic
GCR, Inc. leases 37,000-square-foot office space in Lake Mary amid COVID-19 office closures
GCR Inc., a leading public sector software and services firm, has leased a 37,000-square-foot office space at 400 International Parkway in Lake Mary. The space will house the company’s Center of Excellence, which will focus on innovation in GovTech and helping government improve the way they serve the public.
Rick Solik, MCR, Executive Managing Director of Office Services and Matthew McKeever, CCIM, SIOR Executive Managing Director of Office Services for Colliers International in Orlando represented GCR and assisted them in their search for local properties.
GCR Inc. has over 30 years of experience in partnering with government and commercial clients to deliver consulting services and technology solutions in aviation, elections, urban and transportation planning, energy, public safety and disaster recovery. The Center of Excellence in Lake Mary is the cornerstone of a significant investment in the company’s State Government business unit, PCC, which will centralize and grow its software development operations in the location.
GCR will hire up to 75 employees within the first year with plans to hire 250 new employees over the next five years paying an average salary 150 percent higher than the average wage in Seminole County.
GCR chose the location after an in-depth site selection process that involved more than a dozen leading locations across the country. The State of Florida and Seminole County provided an incentive that totaled $1.5 million through the Florida Qualified Targeted Industry program, a performance-based business incentive that provides companies a tax refund once new jobs are created.
The company’s site selection consultant, Ginovus, worked closely with the Orlando Economic Partnership, Seminole County, Enterprise Florida and the State of Florida to build the case for the company’s decision on a location.
“The social distancing and stay-at-home orders put in place to fight the spread of COVID-19 made this transaction a bit more challenging than in pre-COVID times,” said Solik,. “Interactions had to be handled virtually and additional steps were added to address potential unforeseen circumstances.”
Based on the current executive orders from DeSantis, GCR will open the office with social distancing measures in place. The space, which is spread between two floors, will undergo extensive renovations one floor at a time.
“We were really pleased to get this deal done in the current environment and secure a strong lease agreement for the tenant,” said McKeever. “The long-term commitment will provide jobs to the community and support the local economy as we emerge from the COVID-19 pandemic.”