CBRE has arranged the sale of a 997,861-square-foot, last-mile industrial portfolio in Orlando to Ares Management real estate funds. The portfolio was fully occupied at the time of sale.
José Lobón, Trey Barry, Frank Fallon and Royce Rose with CBRE Capital Markets, represented the seller with the assistance of CBRE’s David Murphy.
The five-building portfolio is located within Airport International Park at Orlando, an industrial park adjacent to Orlando International Airport, and is occupied by eight tenants, including Tire Kingdom, Geodis Logistics LLC, E-Recycling Solutions LLC, Cathedral Corporation, Lockheed Martin, and Suddath Global Logistics.
“The facilities are within minutes of Orlando’s key transportation drivers and logistics infrastructure giving last-mile distributors direct access to Orlando’s rapidly growing population base and a strategic location for central Florida regional distribution,” said CBRE Executive Vice President José Lobón.
The portfolio includes:
- 1001 Tradeport Drive: 261,290-square-foot building
- 1401 Tradeport Drive: 343,623-square-foot building
- 1500 Tradeport Drive: 125,990-square-foot building
- 1700 Tradeport Drive: 110,431-square-foot building
- 771 Hoagland Boulevard: 156,572-square-foot building
The transaction follows a year of increased sales activity for investment-grade properties in 2021, according to CBRE research. Last year, Orlando’s industrial market recorded $1.15 billion in sales compared to $842.3 million during the same period in 2020.
Central Florida, including Orlando, Tampa, and Polk County, was recently highlighted in CBRE’s 2022 North America Industrial Big Box Review & Outlook. More than 5 million people live within 50 miles of the Central Florida core, with an expected growth rate of 9.4 percent over the next five years – the highest of any region in the Southeast. Within 250 miles, occupiers can reach 21 million people or 8.3 million households.
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