Colliers Reps Seller In Highest PSF Industrial Sale of Year

Dec 04, 2013 No Comments by

Quality industrial commercial real estate assets in Central Florida are winning the attention of investors.

Colliers International Central Florida points to another recent example with the sale of a freestanding industrial building at 2175 Premier Row in Orlando.

RL MIT, LLC purchased the industrial asset for $1.4 million – or just over $69 per square foot –  from Juice, Juice & Juice. But RL wasn’t the only firm bidding on the Orlando commercial real estate. The 20,207-square-foot property—which includes 3,456 square feet of office space and features rear loading and tilt-wall construction—had four offers. Indeed, the mixed-use asset sold above asking price.

Matt Sullivan, Wilson McDowell, Bobby Isola of Colliers International Central Florida represented the seller in the transaction. Lee Morris of Cushman & Wakefield represented the buyer.

“This is one of the nicest industrial buildings that’s been available in the area for a while and it commanded a price-per-square-foot higher than we’ve seen for a warehouse in the market for over a year,” says McDowell. “There are a lot of companies looking for nice buildings right now, and this transaction is evidence that some companies are willing to pay a premium for them.”

The industrial property is located in Orlando Central Park, between Chancellor Drive and Dividend Drive. It offers access to Orange Blossom Trail (US Highway 441), John Young Parkway, and Sand Lake Road, and is minutes from the Florida Turnpike-Beachline Expressway interchange.

 

Source:  GlobeSt.

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