Cushman & Wakefield Arranges Sale Of Light Industrial Commerce Park
The three-building light industrial commerce park totals 148,882 square feet.
The three-building light industrial commerce park totals 148,882 square feet.
Rick Colon, Rick Brugge, and Mike Davis of Cushman & Wakefield represented the seller in the transaction.
Cushman & Wakefield’s Rick Colon, Rick Brugge, Mike Davis, and Mark Stratman represented the seller. The property was acquired by Realife Real Estate Group.
The Cushman & Wakefield Capital Markets team of Rick Colon, Mike Davis, and Rick Brugge represented Orlando Sportsplex, LLC in the transaction in collaboration with Glen Jaffee, who has also leased the property since 2020 and was retained by new ownership to continue that role.
The properties were 100% leased at the time of sale to Florida-based Richland Capital Holdings.
PPF Real Estate acquired the 10-building suburban office park for $315 million.
The 75,000-square-foot property Includes 50,000 square feet of office space, warehouse and dock-high loading.
The shell buildings sold for approximately $127 per square foot.
Cushman & Wakefield’s Equity, Debt and Structured Finance team secured $102 million in acquisition financing through PIMCO on behalf of the buyers.
Banyan Street Capital, a Miami-based private equity firm focused on acquiring and operating office properties, purchased the property in a joint venture with a fund managed by DRA Advisors.
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