OVIEDO, FLA. — LRC Properties has purchased Central Florida Resource Center, a three-building shallow-bay industrial property located at 5700, 5707 and 5712 Dot Com Court in Oviedo, a suburb of Orlando. The New York-based buyer purchased the property from an undisclosed seller in partnership with an unnamed institutional investor. The sales price was also not released.
Central Florida Resource Center was 80 percent leased at the time of sale. LRC Properties is planning to repair the roofs, demolish excess space and complete several other cosmetic upgrades at the property, including landscaping and signage.
With this purchase, LRC Properties owns approximately 6.2 million square feet of commercial real estate in the Southeast, with assets under management approaching $550 million.