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ORLANDO-L&B Realty Advisors LLP of Dallas has brought its four-building industrial portfolio at Crossroads Business Park to 89% occupancy with the signing of two estimated five-year leases totaling 153,816 sf with an estimated aggregate value of $2.3 million.

An L&B representative declined to disclose the length and value of the leases. FedEx Smart Post of New Berlin, WI has taken 101,016 sf and San Diego-based Petco has leased 52,800 sf at the 216,478-sf, class A, cross-dock Crossroads Building VI at 501 Gills Dr. Both are estimated five-year leases that bring the building’s occupancy to 85%. The average asking base rent is $3.85 per sf, NNN.

At L&B’s other properties, the 270,080-sf Beeline I is 75% occupied; the 244,086-sf Beeline II and the 216,478-sf Crossroads V are each 100% leased. L&B has owned the portfolio for the past three years.

Trammell Crow Co.’s Orlando Industrial Services team of vice president Gregg Ickes and associate Erik Schwetje negotiated the leases for L&B. Fred Placke of Fischer & Co.’s Pittsburgh office represented FedEx. Seth Dudley from the Los Angeles office of Studley Inc. negotiated for Petco.

South Orlando continues to be the most active leasing area in the metro area, Ickes tells GlobeSt.com. “We are seeing more new companies coming into our area and leasing space from 30,000 sf to 100,000 sf,” Ickes says.

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