ORLANDO—One of the region's largest industrial buildings just sold. Lincoln Property Trust sold a 713,585-square-foot industrial property at 8201 Chancellor Drive for $35.5 million.

When Liberty acquired the property in 2010, the drugstore chain CVS had the building under lease. Liberty completed a long-term renewal of the lease with the tenant last year.

"The Orlando industrial market is very healthy, benefitting from a strong local economy," Stephen Whitley, senior vice president and city manager at Liberty, tells GlobeSt.com. "There's a lot of investor interest in the area, and this sale confirms the value and attractiveness of the Orlando market."

Frank Fallon, Mike Hines, and David Murphy of CBRE represented Liberty in the transaction. Exan Capital represented the buyer.

"Liberty is typically a long-term holder of their real estate, and remains one of the largest owner of industrial real estate in Central Florida," Whitley says. "This sale was just an exercise in prudent asset management."

Liberty currently owns and manages 3.6 million square feet of industrial space in Orlando. The firm has significant holdings in Liberty Park at AIPO, Beachline Industrial Park, Cypress Park Commerce Center, among others.

"Liberty remains very committed to the Orlando market and we continue to focus on growing our industrial portfolio," says Whitley. "We have just developed two new buildings and there are more in the planning stages."

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