Marcus & Millichap Arranges Sale, Financing Of Single Tenant Industrial Asset For $6.85 Million
M&M’s Scott Gould, Chris Biuso, Rory Shelby and Spencer Koch represented the buyer in the transaction.
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M&M’s Scott Gould, Chris Biuso, Rory Shelby and Spencer Koch represented the buyer in the transaction.
The property traded from Northland–an industry-leading real estate private equity firm based out of Massachusetts–to a joint venture comprising New York-based multifamily acquisition Cove Investment Group and Blue Star Equities.
The property is one of the largest vacant land sites positioned within one hour from each of the Orlando and Tampa Central Business Districts.
The convenience and gas station giant signed a 20-year agreement with Orlando NRG, LLC.
José Lobón, Trey Barry, Frank Fallon, Royce Rose, and Alain Bonvecchio of CBRE Capital Markets represented the seller in the transaction.
The 2023 Florida CCIM Chapter President and President-Elect joined SVN | Saunders Ralston Dantzler’s team of Senior Advisors.
Award entries will be accepted until May 24th and and the process for applying for an award has been streamlined this year. Event sponsorships are also available at a variety of levels.
Construction is underway on the first 251,511-square-foot building, the only rear-load warehouse available in the market and the first of up to four buildings planned for the logistics park. Delivery of Building I is expected by the end of 2023 and leasing is underway.
Completed in 2023, Building 100 is a state-of-the-art facility that offers 40-foot clear heights, a 60-foot speed bay, dock levelers, 450-foot building depth and a 185-190-foot truck court.
The borrower, Reich Brothers I LLC, used the bridge loan to acquire the Space Coast property and prepare it for occupancy by its sole tenant, Blue Origin, an aerospace, defense and space exploration company backed by Amazon founder Jeff Bezos.
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