Multifamily Development Site Trades In $5.7 Million Deal

Jan 12, 2017 No Comments by

Cushman & Wakefield negotiated the sale of 19.57 acres of land located at 6201 Corporate Centre Boulevard. The vacant land has been zoned as a multifamily development site with up to 280 luxury apartments planned for the project.

Senior Director Margery Johnson, Senior Associate Andy Slowik, Senior Director Richard D. Solik and Senior Director Matthew Mckeever represented Chicago-based Old Republic National Title Insurance Company (ORTIG) in the disposition. The Richman Group, based in Greenwich, Conn., acquired the asset for $5.7 million. The Richman Group is the nation’s seventh-largest owner of residential apartments in the United States.

6201 Corporate Centre Boulevard is strategically located adjacent to the Orlando submarket of Lee Vista and north of Orlando International Airport with easy access to metro Orlando via State Road 436 (Semoran Boulevard), State Road 417 (the Central Florida GreeneWay) and State Road 528 (Martin B. Anderson Beachline Expressway).

 

“The site’s central location and access to numerous restaurants and the area’s premier retail center, Lee Vista Promenade, make it an attractive draw for a new multifamily development,” said Johnson. “It is an extremely well-located, high-quality site with tremendous potential.”

 

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