Cushman & Wakefield Represents Seller In $98.45M Sale Of Orlando Distribution Center

Cushman & Wakefield represented the Seller in the $98.45 million sale of Crossroads Distribution Center, a four-building, 712,145-square-foot logistics asset in Orlando’s Regency/Turnpike/Beachline submarket.

Cushman & Wakefield’s Mike Davis, Rick Brugge, Rick Colon and Dominic Montazemi represented the Seller in its transaction with Swift Creek Partners.

The portfolio is fully leased to a diverse group of corporate tenants and includes 1151 Gills Drive, a 252,000-square-foot distribution center; 1125 Gills Drive, a 152,240-square-foot building; 1091 Gills Drive, a 235,760-square-foot property; and 1075 Gills Drive, a 72,145-square-foot distribution center.

With an array of bay sizes, cross-dock and front-loading capabilities and generous truck courts, Crossroads Distribution Center can accommodate a broad range of tenant requirements. Additionally, it benefits from easy access to major transportation corridors, including Florida SR 528, Florida’s Turnpike and U.S. Highway 441 (Orange Blossom Trail). It is within a four-hour drive of more than 21 million Florida residents.

Crossroad’s Distribution Center’s infill location in the Regency/Turnpike/Beachline submarket, which is 2.6% vacant, has no new supply coming online in the first quarter as development sites are extremely limited.

“This Infill Portfolio was exceptionally located at the confluence of multiple major Orlando thoroughfares,” said Colon, Cushman & Wakefield Senior Director. “Orlando remains a target market for investors seeking institutional quality industrial real estate and this offering received substantial interest.”