100,000 SF Industrial Facility In Central Florida Sells For $11.3 Million

Colliers announced the sale of a 100,000-square-foot industrial property located at 227 SW 57th Avenue in Ocala for $11.3 million to One Liberty Properties Inc. The property is fully leased to Pratt Industries, one of the largest corrugated packaging companies in the country.

Jimmy Ullrich and Michael Macchia of Colliers represented the seller, Box Equities, in the transaction. The buyer was not represented by outside brokerage.

“This transaction underscores the sustained demand for high-quality, Class-B industrial product across the Southeastern U.S.,” said Macchia. “In addition, the location offers a unique opportunity to serve two of the region’s fastest-growing metros – Tampa and Orlando.”

The property is strategically located in the heart of Ocala and provides convenient access to major roads, including Interstate 75, State Road 301 and State Road 40. The property offers multiple loading options, including grade-level and dock-high configurations.

The buyer, One Liberty Properties, Inc. is an industrial-focused real estate investment trust (REIT) with over four decades of experience owning and operating commercial real estate.

Pratt Industries has been a tenant in the building since 1989. The company produces 100% recycled containerboard and is one of only 16 recycling facilities of its kind in the country.

Box Equities is a privately held real estate investment firm focused on acquiring undervalued triple-net industrial properties in primary and secondary U.S. markets. The firm targets highly functional manufacturing and distribution facilities across the Southeast and Midwest that benefit from superior highway access and stable labor supply. Box Equities purchased the property in April 2022.

“With its long-term tenancy and strategic location along the I-75 corridor, the property exemplifies the type of well-located, functional industrial real estate we seek to acquire,” said Mac Dabah, co-founder and managing partner of Box Equities. “We thank the Colliers team for their hard work and partnership in completing this transaction.”

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