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ORLANDO-Three months old and looking for signature tenants, the 203,125-sf Crownpointe Distribution Center in Southwest Orlando hit the bulls eye with the signing of Redwood City, CA-based Menlo Logistics to an 84,434-sf lease. Owner-developer Opus South Corp. of Minneapolis wouldn’t disclose the value or length of the lease, but area industrial brokers tell GlobeSt.com the deal was probably for 10 years at an estimated aggregate value of $3 million. The average asking base rent is $3.85 per sf.

The lease brings occupancy at the park to 42%, according to Advantis Real Estate Services Co. brokers Tom McFadden and Bo Bradford. They negotiated for the building owner. Kevin Hoover of CB Richard Ellis Inc.’s Orlando office and Steve Shields of Transportation Property Co. represented the tenant.

“This was a complicated transaction to wrap up, given a variety of factors,” McFadden says. “There were several different parties involved at the beginning of the deal and a challenging approval process, coupled with a tight deadline for closing the deal.”

Menlo Logistics is a turnkey logistics consultant and operator. The company is part of Menlo Worldwide, which reported 2002 revenue of $2.8 billion. CNF Inc. owns Menlo Worldwide and Con-Way Transportation Services. CNF, a $4.8-billion global enterprise, is part of the supply-chain management industry.

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