Realty Capital Closes $10M in Sales, Leases

"We see the market as strong as it has been in many years with no short term letup in site," Realty Capital senior vice president Austin Caruso Jr. tells GlobeSt.com. "Many of the sales in Central Florida are being driven by out-of-state or South Florida investors. There is no foreseeable end in site, even with a slight bump in interest rates.

"Vacant land, retail and industrial, along with any investment grade property continue to be hot commodities in Central Florida," he adds.

Among the sales were a 61,110-sf building on 4.89 acres at 1010 W. Grand Ave., Orlando, sold for $1.6 million to Neil Harrow; a 56,382-sf building on 3.95 acres at 419 and 335 Ingraham Rd., Lakeland, sold for $2.25 million to Ingraham LLC; a 22,800-sf building on 2.65 acres at 903 Brentwood Dr., Daytona Beach, sold for $1 million to Center Lake Properties Ltd.; a 20,631-sf building on 1.79 acres at 951 Pierce St., Clearwater, sold for $1.65 million to Hughes Plumbing Supply Ltd.; and a 7,038-sf building at 2704 Rew Circle, Ocoee, sold for $890,000 to Al & Bill Properties LLC.

On the leasing front, Realty Capital senior vice president Morgan Wisleman filled up 19,200 sf of industrial space at the 7730 Kingspointe Parkway building. Controlled Semiconductor leased 12,800 sf for five years at an estimated aggregate rent of $192,000. Crystal Magic is taking 6,400 sf for five years at an estimated $96,000.

At Highland Lakes Center, 7475 W. Colonial Dr., Orlando, Hancock Fabrics signed a 10-year lease for 16,656 sf at an estimated total rent of $499,680. Realty Capital has a staff of 37 with 23 brokers.