The newly constructed build-to-suit property was built for Sanitas Medical Center, which currently occupies the property. The Tenant signed a 10-year lease with over 9 years remaining with an annual increase at the time of the sale.
Leveraging their creative strategies and collaborative approaches, the JLL recruits will enhance and broaden Stream’s innovative platform within the market.
The property comprises eight buildings situated on 20 acres and features 18- to 20-foot clear heights and rear-load capabilities.
The 211,006-square-foot retail center was 92.4 percent leased at the time of sale.
The deal was part of a four-commercial-property acquisition in Florida and Texas, as well as the refinance of two of its current commercial properties in Florida. The complex transaction, which totaled $220 million, closed on November 30.
Local construction company NEFCO signed a lease for 83,082 square feet of space while Evolution Electric Vehicles will occupy Building 200, plus 71,210 square feet of space in Building 100.
The borrower, a joint venture between Sovereign Properties and Invest Capital Group, plans to open first units at the garden-style property in October 2024.
Luis Castillo, Cody Braiz and Dennis Mitchell of JLL represented the seller and procured the buyers in the transaction.
McCraney Property Co., plans to develop the industrial park on a 40-acre site at 1290 Ocoee Apopka Road.
Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction and procured the buyer.