Boston Buyer Purchases Orlando Industrial Property For $8 Million

Oct 09, 2013 No Comments by

Marcus & Millichap announced the sale of a 215,900-square foot industrial property located in Orlando.

The asset sold for $8,075,000.

Douglas K. Mandel, a First Vice President Investments in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Orlando.  Mandel also secured the buyer, a limited liability company from Boston, MA.

“This deal provided an investor with the opportunity to acquire a quality product with a long-term, investment grade tenant.  It is centrally located in one of Orlando’s premier submarkets on the outside edge of the Orlando Central Park, which is home to over 100 major manufacturers, distributors and employers,” says Mandel.

The class-B light-manufacturing property contains 215,900 rentable square feet and is 100 percent occupied by Sonoco Consumer Packing Group, a division of Sonoco Products Co. The building is comprised of approximately 8 percent office space and 92 percent manufacturing space and features 13 dock doors and four rail doors with ceiling heights of 18′ to 30′ feet. The property also includes a 5,400-square foot truck maintenance building with three bays and space for on-site trailer parking.

The property is located close to the Florida Turnpike, Interstate-4, and Highway-44 at 1854 Central Florida Parkway in Orlando.

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Industrial, Industry News, NA
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