Colliers Facilitates Sale Of $46 Million Industrial Development Site In Orlando
The buyer plans to develop Orlando Infill Logistics Center on the 168.3-acre property, located on Wetherbee Road near Orlando International Airport.
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The buyer plans to develop Orlando Infill Logistics Center on the 168.3-acre property, located on Wetherbee Road near Orlando International Airport.
The transaction was brokered by Felipe Escobar of APEX Capital Realty, who represented TerraMap Properties throughout the process.
The deal was led by Robby Barrows, Senior Vice President of Commercial Banking, in collaboration with David Druey, Florida Regional President at Centennial Bank.
Knightvest plans to renovate the majority of the 332 units and make substantial upgrades to the community’s amenities and common spaces.
The 103,830-square-foot-property at 4520 S Semoran Blvd is currently 99% occupied.
The sale marks one of the largest retail real estate sales in the Orlando Metropolitan Area in the last five years.
JLL Managing Director Micah Strader and Senior Associate Madison Kimbell represented the building’s ownership in the lease negotiations. The tenant was represented by Andrei Savitski of CBRE.
The firm purchased the 209,000-square-foot property for $33.25 million.
The property boasts a 92.3% occupancy rate.
The acquisitions total 150 acres.
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