Apopka Industrial Center Sells For $90.5 Million

The Northwest Distribution Center, a 668,800-square-foot industrial property at 1349-1501 Ocoee Apopka Road, sold for $90.55 million.

Clarion Partners is the buyer. Oakmont Industrial Group and PGIM Real Estate were the seller.

Oakmont Industrial Group invested $50 million in Phase I of the Apopka property in 2008 with two buildings. They built two additional buildings in 2017. The center’s four buildings range from 124,000-207,000 square feet on 45 acres at the northwest corner of State Roads 429, 414 and 451.

Industrial development activity continues to grow in the Northwest Orange County submarket. The City of Apopka is looking at 2.6 million more square feet of warehouse space in areas around the municipal airport.

Source:  Connect CRE