Avison Young Facilitates 12,000 SF Lease Renewal In Orlando

Avison Young’s Lisa Bailey, Principal, and Kevin DelaRosa, Associate, completed the 12,169-square-foot lease renewal retaining I Wanna Distributors, Inc., a distribution company specializing in ice cream and gourmet foods, at 480 W. 27th Street in Orlando. The property is located just south of downtown and within Orlando’s Southeast Orange County industrial submarket Bailey and DelaRosa represented the landlord, CIX Cofe Grant Street LLC in the deal. Avison Young’s Orlando office continues to observe robust leasing activity in the Orlando industrial market, especially amongst smaller to mid-size users. Additionally, with 6.9 percent total vacancy according to first quarter 2017 market reports, Southeast Orange County saw 484,552 square feet in net absorption of industrial space which accounts for two-thirds of the total net absorption realized throughout the entire Orlando market. Near the intersection of Division Avenue and Michigan Street, the 48,000-square-foot warehouse at 480 W. 27th Street offers tenants convenient access to Interstate 4 and State Road 408 (East-West Expressway).    

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