It will be the first residential phase of a larger 200-acre mixed-use development.
The Orlando office market is finally seeing positive absorption across all major submarkets. An impressive second quarter recorded 122,423 square feet of positive absorption, bringing the total for the first half of the year to 156,778 square feet.
Ron Rogg of CBRE represented TerraCap in the sale transaction.
The portfolio is comprised of 20 buildings
Christian Charre, Paul Weimer, Jennifer Jin and Andrew Pastorino of CBRE represented the seller, a joint venture between Opterra Capital, Willow Street Capital, Duke Hospitality and LCP Group, in the transaction.
The property sold for $6,750,000 million.
Located on 15 acres within Central Florida Research Park, Challenger South I and II were 93 percent leased at the time of sale.
Dalfen acquired 73.66 acres of land in Auburndale, Florida with a plan to build 2 Class A industrial facilities totaling 896,400 square feet.
Darron Kattan, Zachary Ames, Avery Jordan, Mark Savarese, Cary Brown and Cameron Wolfe of Franklin Street represented both the buyer, Topaz Capital Group, LLC, and the seller, Wells Boys & Girls Management.
Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction and procured the buyer.