Colliers Closes Second-Largest Industrial Sale In Central Florida This Year With Sale Of 821,000 SF Property

Sep 30, 2015 No Comments by

Legacy Capital Partners, a private equity investor out of Boulder, CO, has purchased Central Florida Business Park for $9.7 million in the second-largest industrial sale in Central Florida this year, according to a release.

The property includes 10 buildings – totalling 821,000 square feet on 52 acres – at 5300 Recker Highway in Winter Haven.

Fred Beasley, SIOR, of Colliers International Central Florida represented the seller, a multi-billion-dollar global private equity firm.

 

“This was a challenging transaction, given that the property is in a tertiary market and is comprised of 10 unique buildings with varying amenities and specifications,” said Beasley, Director of Investment Sales for Colliers International Central Florida. “However, significant industrial activity in Polk County created excitement and interest in this property.”

Because of its location in the center of the state, Polk County continues to be an attractive geography for industrial users and regional distribution centers. Wal-Mart Stores Inc. recently announced plans to break ground on a $200-million distribution center 16 miles to the east of Central Florida Business Park.

FedEx is also building a 310,000-square-foot distribution center adjacent to the proposed Wal-Mart development. And a 1-million-square-foot Amazon fulfillment center opened last year in the Polk County city of Lakeland.

 

“More and more, Polk County is becoming a focal point for industrial development and investment,” Beasley said. “The buyer recognized the upside potential in this asset and by enhancing the property via smart capital improvements anticipates the value to increase as the area’s economy and industrial market continues to mature.”

Currently, the property is 75 percent leased, to six different tenants.

 

————————

Get the latest industry news and information from CRE-sources delivered right to your email inbox!

Click Here To Subscribe Today!

Go Ahead...Share!
  • email
  • Facebook
  • LinkedIn
  • Twitter
  • Add to favorites
  • Print
Industrial, Industry News, NA
No Responses to “Colliers Closes Second-Largest Industrial Sale In Central Florida This Year With Sale Of 821,000 SF Property”

Leave a Reply