Marcus & Millichap’s Douglas Mandel and Robbie McEwan Secure Buyer For Winter Garden Business Park

Feb 22, 2016 No Comments by

Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) senior director Douglas K. Mandel and Robbie McEwan, Senior Associate with Marcus & Millichap’s Orlando office, negotiated the sale of Winter Garden Business Park, a 91,734-square-foot retail and office park located at 1218-1232 Winter Garden Vineland Road in Orange County, FL, part of the Orlando MSA.

douglas mandel robbie mcewanBel-Cal Properties, Inc. purchased the 2005-built, 8-building portfolio for $8,550,000, or $93 per square foot, from Adler Winter Garden, LLC, a division of Miami-based Adler Group.

Adler purchased the asset in June 2010 for $5,750,000.

Mandel and McEwan represented both the buyer and seller in the transaction. The deal closed February 12.

 

“Securing this California-based buyer further demonstrates the strength of our team to successfully access out-of-area capital for Florida assets,” commented Mandel.  “In addition, buyers are attracted to the Greater Orlando area for higher yields than what we’re seeing in South Florida.”

Winter Garden Business Park is conveniently located in close proximity to the Turnpike and the Western Expressway (SR 429) and is just South of Colonial Drive (SR 50). It is also just minutes from Downtown Winter Garden, City of Windermere, Ocoee, Bay Hill and Isleworth.

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