The deal, which closed in one week, is the largest of its kind this year in Central Florida. The transaction was crafted by Rebman Properties Inc. of Maitland, FL and Trammell Crow Co.'s Orlando office.

San Francisco-based ABM Property Co., through its local entity, CH-VAF Orlando Joint Venture, owns the warehouse which was vacant only seven months before it was leased, Rebman Properties president Roger K. Rebman tells GlobeSt.com.

"We tweaked the [rent] rate and terms a bit to make both the tenant and landlord happy," Rebman says. "The ceiling height was only 24 feet clear, so stacking heights were limited, but the low rental rate was an offset to that limitation."

Rebman represented SDE. John McRae and Gregg Ickes of Trammell Crow negotiated for the owner. Although 21 years old, the warehouse "has been well-cared for and recently repainted inside and out and the offices refurbished, as well," Rebman says. AMB owns an estimated 1.5 million sf of product in the 4,500-acre Orlando Central Park.

SDE previously operated as Sanchez D. Trucking Co., headed by Edward Sanchez.

In a new market report, the Orlando office of Cushman & Wakefield of Florida Inc. puts the overall industrial vacancy level at 12%, up from 11.5% in 4Q 2002. But an indication the market may gradually be turning around is the amount of gross sf leased--3.9 million sf versus 2.3 million sf in 3Q last year.