Single-Tenant NNN Stability

12253 Challenger Parkway is a 19,604 SF, two-stor y flex of fice building with conditioned warehouse space, that is 100% leased to Cole Engineering Ser vices, Inc. (CESI) through February 2030. The NNN lease structure passes all operating expenses directly to the tenant, delivering a passive income stream with minimal landlord exposure.

Defense Contracting Tenant with Business Synergies Tied to Location

CESI, a By Light Company, is a mission-critical defense modeling, simulation, and cyber training firm ser ving the U.S. Army, Air Force, Navy, DHS, and DARPA. Headquartered at this building, CESI holds large defense contracts including a $62M PEO STRI award and a $957M Cyber TRIDENT IDIQ. The building is located within Central Florida’s Research Park (“CFRP”), widely considered the largest modeling, simulation, and training defense hub in the world. The Army, Navy, Marines, and Air Force all have contract award offices within CFRP underscoring the Tenant’s deep institutional commitment to this location.

Contractual Rent Growth & Renewal Optionality

In-place rent of $20.30/SF escalates 3.0% annually through lease expiration. Two successive 5-year renewal options, each priced at 103% of the prior year’s rent with continued 3% annual escalations, provide a clear roadmap to extended occupancy at above-market escalation rates.