New York Investment Firm Enters Orlando Market With Oviedo Industrial Buy

New York-based real estate firm LRC Properties has made its first foray into Florida with the acquisition of the Central Florida Resource Center, a three-building industrial complex in Oviedo, just outside Orlando.

The firm purchased the 209,000-square-foot property at 5700 Dot Com Court for $33.25 million from Naples-based TerraCap Management. Public records show the property previously sold in 2022 for $34.845 million.

LRC Properties, which focuses on industrial acquisitions across the Southeast—including North Carolina, South Carolina, Georgia, and Tennessee—is now eyeing additional opportunities in Florida. According to Principal Karie Nero, the company is actively pursuing deals in both West Palm Beach and Tampa, with Central Florida being a key growth target.

“There’s significant momentum in the area,” said Nero. “We’re seeing strong population and business growth, healthy rent increases, and great long-term investment potential. We love this asset for its construction quality and tenant mix, and we’re committed to enhancing the tenant experience.”

As part of its value-add strategy, LRC plans to make several upgrades to the property, including roof repairs, reconfiguring space to create more functional industrial layouts, and making aesthetic improvements such as updated landscaping and signage. The complex, made up of shallow bay buildings constructed between 2003 and 2008, is currently 80% leased.

Current tenants include Home Health Aide, Daedalus Technologies, ProActive Technologies, JPRG Aviation, and D-BAT Oviedo. Leasing is managed by Foundry Commercial’s John Pietkiewicz and Joey Woodman.

“We saw an opportunity in the remaining vacancy,” Nero noted. “By investing in improvements, we can attract new tenants and bring the property to full occupancy.”