The Easton Group, in partnership with Stonemont Financial and Cerberus Capital Management, has acquired an outdoor industrial facility in Central Florida for $7.125 million. The 10.21-acre site is being leased by Seminole Masonry, a precast concrete manufacturer.
C.J. Easton and David Wilf, both acquisition principals with The Easton Group, sourced the deal and put it under contract. The duo joined the real estate company earlier in 2021 to focus on expanding markets and niche strategies, including industrial outdoor storage.
The Seminole Masonry site is located at 3850 East Lake Mary Blvd. in Sanford, adjacent to the Orlando-Sanford Airport, a hub for cargo and e-commerce activity. It has 58,000 square feet of building improvements including office, warehouses, and a fuel depot.
The seller developed the property when he started Seminole Masonry and retained possession of the real estate after selling the company in 2017.
For the Easton Group, this acquisition shows commitment to industrial outdoor storage and comes at the forefront of various identified investments.
“We are really bullish on this product category as it is a great complement to the traditional warehouse and distribution facilities that the Easton Group is known for,” said Easton. “We are looking to do more deals like this throughout Florida and Southeast U.S.”
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