Cushman & Wakefield Arranges $42M Sale Of Central Florida Logistics Center
Cushman & Wakefield arranged the $42,200,000 sale of Titusville Logistics Center, a Class A industrial warehouse facility totaling 247,069 square feet in Titusville.
Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi of Cushman & Wakefield represented the seller in the sale transaction in collaboration with the Space Coast-based leasing team of Mike Moss and Michael Moss II at Lightle Beckner Robison, Inc., who has been retained by new ownership to continue leasing the property.
Titusville Logistics Center was sold by Reich Brothers, a national industrial real estate firm with a core focus on value-add warehousing and manufacturing properties across the United States. Hines acquired the property on behalf of their U.S.-focused core-plus fund, Hines U.S. Property Partners, and is also actively developing the nearby Space Coast Innovation Park.
“The Space Coast has witnessed tremendous demand growth for warehouse space with a nearly 10-fold increase of rocket launches since 2019. With a lack of Class A space and limited land available for additional development, Titusville Logistics Center received substantial investor interest from a variety of capital sources,” said Colon, Senior Director at Cushman & Wakefield.
Titusville Logistics Center is located at 7700 US-1 and was fully leased to multiple global and national tenants at the time of sale. The facility features a modern building design with dock-high and drive-in loading doors, 30-foot clear heights, tilt-wall construction, a 130-foot truck court and the potential for rail-side access. Additionally, Titusville Logistics Center is one of the few Class A properties within the rapidly growing Space coast market and provides both easy access to major Florida roadways along with seamless connectivity to the Space Coast region and surrounding areas.
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