Cushman & Wakefield Brokers $67.1M Sale of Four Warehouse, Distribution Buildings in Orlando
ORLANDO, FLA. — Cushman & Wakefield has brokered the $67.1 million sale of four Class A warehouse and distribution buildings in Orlando totaling 946,379 square feet.
The portfolio includes Beachline Distribution Center I and II and Crossroads Business Park V and VI. The buildings were fully leased at the time of sale to tenants including FedEx Smartpost, Dusobox, McKesson, Mattress One, Petco and US Mattress Depot.
Each building offers front-load and cross-dock capabilities, tilt-wall construction, 26- to 30-foot clear heights, fire safety systems, parking and 120- to 150-foot truck courts with 55-foot concrete aprons.
Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, a state pension fund advised by L&B Realty Advisors LLP. Los Angeles-based Colony NorthStar acquired the assets through its Dallas-based industrial fund, Colony Industrial.
The transaction is the largest multi-tenant industrial portfolio sale in Orlando’s history in terms of square footage, according to Cushman & Wakefield.
— Katie Sloan