Foundation purchases office building in Maitland

175 Lookout Place

175 Lookout PlaceThe Florida Bar Foundation closed on the purchase of a 4,200 sq. ft. building in Maitland on July 15. The building will house the Foundation’s operations and staff.

In 2019, a board committee began researching the cost effectiveness of owning a building rather than paying rent for office space. After determining there would be significant savings of more than $3 million over 25 years, the board approved the purchase of a building located at 175 Lookout Place.

The Foundation will not have a mortgage, having purchased the property paying cash out of funds allocated for a building purchase. The Foundation entered into a two-year lease for the top floor, which effectively offsets all of the costs associated with occupying and maintaining the property during that time.