"While the number of warehouse, flex and R&D transactions are down slightly from last year, capital volumes are up, indicating that competition among investors has strengthened, causing prices to rise in many markets," notes Lisa M. DeVore, director of research in the Orlando office of Advantis Real Estate Services Co.
In suburban Sanford, for example, a 5,400-sf warehouse at 2716 N. Financial Court sold for $360,000 or $66.81 per sf. Robert A. Whritenour bought the property from James L. Cunnif. Participating brokers in the transaction were Craig Duke and Allison Reynolds of Coldwell Banker Commercial NRT and Ray Ramono of CB Richard Ellis Inc.
Duke and Reynolds also brokered the $682,150 sale of a 12,150-sf warehouse at 7477 Monetary Dr. here. OOC Properties LLC paid Baron Real Estate Inc. $56.14 per sf for the property. Greg Rebman of Rebman Properties Inc. worked with Duke and Reynolds on the deal.
An 8,230-sf warehouse at 108 S. Norton Ave. in the city generated a price of $415,000, or $50.42 per sf, for owner Yani Jusakos. Portable Welding Specialists bought the building. Chuck McNulty of McNulty Group Inc. negotiated for the buyer.
McNulty also represented buyer Design Furnishings Inc. in its nearly $1.1-million acquisition of a 23,486-sf warehouse building at 3647 All American Blvd. Colonial Bank sold the asset for $44.70 per sf.
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