Alamo Site Near Airport Triggers $207 per-SF Tag

ORLANDO-Locally based MCO Properties and Investments has picked up a prime 70.33-acre industrial property housing the 39,614-sf Alamo Rent-A-Car facility two miles southwest of Orlando International Airport where new retail and high-end housing developments are under way.

The $8.2 million price MCO paid Dallas-based Cardinal Capital Partners Ltd. equates to $207 per sf for the Alamo facility itself and $116,593 per acre ($2.68 per sf) for the 70.33 acres, if calculated separately.

It’s the highest-per-sf-priced deal of the year in metro Orlando for an industrial building, GlobeSt.com research shows.

MCO and Alamo officials couldn’t be reached at GlobeSt.com’s publication deadline to learn what they plan for the site if the Alamo operations are phased out.

Cardinal has owned the property at 8200 McCoy Road for only a year. The single-tenant, net-lease property is the largest dollar volume rental car facility in the world with 2000 revenue of $127 million, according to a prepared statement from Marcus & Millichap Real Estate Investment Brokerage Co. which represented the buyer and seller in the transaction.

The property was built in 1983 and expanded in 1993 and 1994. Brokers Jeffrey Pocklington and Michael Pocklington in M&M’s Orlando office handled the deal.