CBRE has arranged the sale of a three-building industrial portfolio totaling 241,124 square feet in Orlando.
GID Industrial purchased the property from Boston-based institutional investor TA Realty LLC.
José Lobón, Trey Barry, Frank Fallon, Royce Rose, and Alain Bonvecchio of CBRE Capital Markets represented the seller in the transaction. The Capital Markets team was assisted by David Murphy and Monica Wonus with CBRE Industrial & Logistics.
The portfolio was fully occupied by 14 tenants, including anchor tenant USPS, at the time of sale.
The 130,400-square-foot building at 10425 S. Orange Avenue is located directly adjacent to Orlando International Airport. This fully fenced property features clearance heights ranging from 22 to 27 feet, 20 front-load dock doors, one drive-in door, a brand-new roof, a guard house, 58 car parking spaces and 20 trailer parking spaces.
The 62,210-square-foot building at 523 W. Grant Street features 18-foot clearance heights, 13 front-load dock doors, one drive-in door, a brand-new roof, and 52 car parking spaces.
The 48,514-square-foot building at 444 27th Street features 18-foot clearance heights, seven front-load dock doors, four drive-in doors, a brand-new roof, and 46 car parking spaces.
The buildings at 523 W. Grant Street and 444 27th Street are located minutes from Downtown Orlando and have frontage long Interstate 4.
“Each of these infill buildings sit in Orlando’s highly desirable Southeast Orange County submarket, providing distribution users with excellent transportation linkages to South Florida via the Florida Turnpike, to Tampa and Jacksonville via Interstate 4, and the east coast of Florida using the Beachline Expressway (SR 528). The buyer will be able to capitalize on the high tenant demand and rapid rent growth we are seeing in Southeast Orlando,” said CBRE Vice Chairman José Lobón.
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