Federated Companies Buys Central Florida Industrial Building From Butters

Nov 06, 2018 No Comments by

CBRE arranged the $4.4 million sale of 940 Williston Park Point in Lake Mary.

The 48,832-square-foot property has 34,682 square feet of warehouse space and sits on a 3.54-acre site.

The Federated Companies purchased the building from Butters Real Estate Fund IV, which was exclusively represented by CBRE’s David Murphy and Monica Wonus.

 

“Central Florida’s industrial market is very active and highly attractive to investors who appreciate the emergence of Orlando as a statewide center for distribution,” said David Murphy, senior vice president at CBRE.

The transaction closed on Monday, October 29.

Built in 2003, the property is a single-tenant building leased to Harper Limbaugh. It is located directly off Rinehart Road and enjoys easy access to Interstate 4, State Road 417 and Orlando-Sanford International Airport.

Lake Mary is one of Orlando’s most affluent submarkets, and it is located in Seminole County. According to CBRE’s Orlando Industrial MarketView Q3 2018, Seminole County has a total vacancy of 7.2% and a current net absorption of 365,850 sq. ft.

 

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