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The state-of-the-art automated warehouse will introduce Kroger’s innovative shopping experience to central Florida, a new market for the nation’s largest grocery retailer, while also extending its reach and capabilities in online ordering and home delivery.
The 80-acre property is under contract.
Matthew Mousavi, Patrick Luther and Patrick Nutt of SRS represented the seller, a Florida-based development firm, in the disposition of both properties to two separate buyers.
The final agreement is set to go before the Lake County Commission on July 27.
Cushman & Wakefield’s Equity, Debt and Structured Finance team secured $102 million in acquisition financing through PIMCO on behalf of the buyers.
The Land Advisors Organization’s Orlando team of Mike Ripley and Steve Flanagan, acting as a transaction broker, arranged the sale of the 17-acre parcel.
Colliers’ Joe Rossi and Nick Hanson brokered the transaction.
The JLL Capital Markets investment sales team that represented the seller was led by Managing Director Jay Ballard and Managing Director Ken DelVillar.
The 330,000-square-foot community features one-, two- and three-bedroom apartments.
A hearing is scheduled for July 20 for the city of Orlando’s municipal planning board.
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