Waste Pro Signs Lease to Expand Lakewood Headquarters
- Oct 20, 2014
Waste Pro USA Inc. has recently signed a lease agreement for close to 15,000 square feet of Class A office space at The Springs office building, where the company has resided in the past fifteen years.
The tenant is a privately owned corporation offering solid waste collection, recycling, processing, and disposal services in more than 75 operating locations in Alabama, Florida, Georgia, South and North Carolina, Louisiana, Mississippi, and Tennessee. The company holds around 180 exclusive municipal contracts and franchises and provides services to more than 2 million residential and over 40,000 commercial customers.
Atlanta based Taylor & Mathis’ Orlando office closed the transaction with Principal Damien Madsen representing Waste Pro. The deal includes nearly the entire 2nd and 3rd floors of the building with the firm renewing its lease for the building’s third floor and expanding to take nearly the entire second floor as well, so the new space nearly doubles the size of Waste Pro’s headquarter offices.
The Springs is a 40,000 square-foot, 3-story Class A office building with large windows and a spacious parking area. It is located at the intersection of State Road 434 and Markham Woods Road in Longwood, just West of Interstate 4.
“There’s some legacy value there because they could have moved to Texas, which the owner was contemplating. But they decided to stay here in Longwood,” Madsen says.
Waste Pro has also recently completed a $579 million recapitalization. The new credit facility is all debt, which included an asset base loan revolving line of credit led by Wells Fargo Capital Finance. It also completes and fulfills the terms of Waste Pro’s five-year $100 million investment by Roark Capital Partners.
Photo credits: Taylor & Mathis Florida