Avison Young Negotiates Sale Of 3,400-Acre Industrial Development Site In Central Florida
Jay Ziv, Michael Fay, John Crotty, David Duckworth, Brian de la Fé and Greg Morrison of Avison Young marketed and brokered the sale on behalf of the seller.
Jay Ziv, Michael Fay, John Crotty, David Duckworth, Brian de la Fé and Greg Morrison of Avison Young marketed and brokered the sale on behalf of the seller.
John Gosnell of Strategic Real Estate Partners represented the sole tenant in the lease deal. Clay Witherspoon of Avison Young representing MDH Partners.
Average triple-net lease rents have reached $10.77 per square foot, representing a 62.9% increase since 2019.
The property is one of the largest vacant land sites positioned within one hour from each of the Orlando and Tampa Central Business Districts.
Located at the corner of NW 35th Street and NW 27th Avenue, Ocala Logistics Center features 196 parking spaces, 96 trailer drops, ESFR sprinkler systems and 36-foot clear heights.
Ron Rogg of CBRE represented TerraCap in the sale transaction.
The buildings, built between 1968 and 1978, were sold after an intense bidding war at a notably strong cap rate, especially for older industrial assets, indicating that investor appetite is increasing in Florida’s secondary and tertiary markets.
The transaction was arranged on the Ten-X auction platform.
The sale was facilitated using the Ten-X auction platform and represented a joint-effort between Avison Young’s Orlando and South Florida offices.
Avison Young Senior Vice President Rosendo Caveiro exclusively represented the European-based seller during the sale.
CRE-sources, Inc. is committed to ensuring that individuals with disabilities can access all of the goods, services, facilities, privileges, advantages, and accommodations that we offer through our website.If you are having trouble accessing the website, please call us at 954.290.3866 for assistance.