PPF Real Estate acquired the 10-building suburban office park for $315 million.
The transaction was arranged on the Ten-X auction platform.
The 75,000-square-foot property Includes 50,000 square feet of office space, warehouse and dock-high loading.
The sale was facilitated using the Ten-X auction platform and represented a joint-effort between Avison Young’s Orlando and South Florida offices.
The 38,537-square-foot portfolio was 88.2% leased with a weighted average lease term of over 5.5 years.
Cresa Orlando’s Sarah Castor represented Florida Cancer Specialists, and Colliers’ Matthew McKeever and Rick Solik represented the landlord in the deal.
The final agreement is set to go before the Lake County Commission on July 27.
He is an industry veteran with over 37 years of experience in commercial real estate.
Banyan Street Capital, a Miami-based private equity firm focused on acquiring and operating office properties, purchased the property in a joint venture with a fund managed by DRA Advisors.
The two side-by-side brick and stucco multi-tenant buildings total 13,690 square feet.
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