Transwestern Investment Group (TIG®) and Washington, D.C.-based Acento Real Estate Partners announced the sale of a three-building, 213,660-square-foot industrial portfolio in Orlando.
The properties, Monroe Commerce Center and Park South, were 100% leased at the time of sale to Florida-based Richland Capital Holdings.
The price was not disclosed.
“The portfolio fulfilled our investment objectives, providing stable cash flow from a diverse roster of national and regional tenants,” said Claire Casey, Senior Associate at TIG. “Orlando’s industrial market continues to see healthy rent growth and robust leasing, with limited developable sites.”
Monroe Commerce Center is located at 4150 and 4200 Church St. in the Lake Mary/Sanford submarket and Park South is located at 9420 Delegates Drive in the Regency/Turnpike submarket. The portfolio features suite sizes ranging from 4,000 to 29,000 square feet. Since 2016, market rents for industrial space smaller than 25,000 square feet have significantly outpaced overall market growth.
Cushman & Wakefield’s Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi represented the sellers in the transaction.
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