820,000-Square-Foot Central Florida Industrial Portfolio Changes Hands

Jan 24, 2019 No Comments by

Marcus & Millichap announced the sale of the American Industrial Center (AIC), an 820,000-square-foot industrial park in Longwood.

 

“AIC is the largest continuously owned multi-tenant, dock-high and grade-level loading industrial park in Seminole County,” said Douglas K. Mandel, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office.

Mandel and Nicholas Hanson, senior associate in Marcus & Millichap’s Orlando office, represented the buyer, a joint venture between Blue Vista Capital Management LLC and Logistics Investment Management. The seller is a private family.

 

“The transaction is one of the largest industrial park sales in the history of the Orlando market,” said Hanson. “AIC was 95 percent occupied at the time of sale, which provides the purchaser with strong cash flow as well as the ability to further enhance returns by investing incremental capital to improve rental rates. Seminole County industrial tenants typically prefer spaces that average between 3,000 and 40,000 square feet and AIC’s configuration fits perfectly within that size range,” concluded Hanson.

Logistics Investment Management is led by Dann M. Thomasson and Brian D. Trahan.

 

“We could not be more pleased with the level of execution expertise and professionalism Marcus & Millichap brought to the transaction,” added Thomasson.

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