CBRE has arranged the $6,475,000 sale of the Crown Cork & Seal building, a more than 200,000-square-foot industrial facility in Winter Garden. Located at 851 East Maple Street, the property was purchased by Ultimate Realty. CBRE’s David Murphy, Monica Wonus and Cameron Thomas arranged the sale on behalf of the buyer and seller. Upon closing, Mr. Murphy and team were retained by Ultimate Realty to market and lease the property.
Ultimate Realty, founded in 1996, is an experienced New York-based real estate investment management firm that specializes in commercial and multifamily projects throughout the United States and Puerto Rico. It currently holds an industrial portfolio of over 1 million square feet and has additional 400,000 square feet in the development pipeline.
“The Northwest Orange County submarket has become one of the hottest in Central Florida due to the emergence of State Road 429 as a freight corridor,” said Murphy, Executive Vice President at CBRE. “We were marketing the property at the onset of the COVID-19 pandemic and immediately switched to a virtual marketing approach. We are thrilled to be working with the Ultimate team as they were able to secure the deal in the midst of the pandemic and close the all-cash transaction in just over 30 days.”
Built in 1954, the Crown Cork & Seal building features about 8,000 square feet of office space. The building is fully fenced and includes 10 dock high loading doors. Located within two miles of the Florida turnpike, the property is between Tampa and Daytona Beach. It has easy access to State Road 429, the Florida central railroad, and it is about 25 miles from Orlando International Airport.
“We are bullish on the industrial market and see strong fundamentals coming out of the warehouse and distribution sector. The strong workforce and exceptional freeway access make this an excellent long-term asset for the portfolio. We look forward to providing jobs to area residents as well as working with the community,” said Michael Sabbagh of Ultimate Realty.
[responsivevoice_button voice="US English Female" buttontext="Listen to Post"]
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.]]>
Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.