Marcus & Millichap’s Douglas Mandel Closes Sale Of Collis Roofing Office & Warehouse Portfolio In Central Florida

Marcus & Millichap Senior Vice President Douglas K. Mandel negotiated the sale of the Collis Roofing Portfolio, a three-property, 86,822-square foot office and warehouse portfolio situated on approximately 10.89 acres of land in Longwood, Lakeland and Melbourne, Florida. [caption id="attachment_5790" align="alignright" width="300"] Collis Roofing-Longwood HQ[/caption] Sandlapper Capital Investments, LLC, purchased the property for $9,250,000 from L&B Holdings of Longwood, LLC. [caption id="attachment_5791" align="alignleft" width="300"] Collis Roofing-Melbourne HQ[/caption] Mandel represented both parties in the transaction. The deal closed February 1. [caption id="attachment_5793" align="alignright" width="300"] Collis Roofing-Lakeland HQ[/caption] Collis Roofing’s corporate headquarter building in Longwood totals 58,000 square feet.  The 1987-built office and industrial facility sits on a 6.97-acre lot located at 485 Commerce Way within a large business park. The East Coast headquarter facility, located at 3970 Dow Road in Melbourne, Florida, totals 13,817 square feet. The third building, located at 2323 Memorial Blvd. in Lakeland, Florida served as the Gulf Coast headquarters for Collis.  The 14,505-square-foot office and industrial facility is situated on 2.75 acres just off West Memorial Blvd.  

“Each of the three buildings included in the portfolio were extremely well located and positioned to take advantage of the growing demand in the Central Florida Market, ” commented Mandel.  “The buyer is a syndicator and bought the deals because of the strong financials of the tenant, coupled with the term of the lease and the escalating yield.  It’s a buy/hold strategy.”

 

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