(Read more on the industrial market.)

SANFORD, FL-Boston-based GID Investment Advisers LLC has acquired the 110,000-sf flex/industrial Vantage Point Business Center on behalf of an affiliate Windsor Realty Fund VII LLC. Orange City-based Vantage Point Properties sold the property for $12.5 million.

The four-building property was completed in July and is situated on 9.5 acres along Monroe Road, which is currently being expanded from a two- to a four-lane road. It has access to Interstate 4, State Highway 417 and State Highway 429, which will be expanded. It is also in close proximity to retail development, including the 1.2-million-sf Seminole Town Center and the 550,000-sf MarketPlace at Town Center.

The property is currently 35% occupied, with lead tenant General Works Roofing. Bo Bradford and Tom McFadden, of GVA Advantis, were hired to handle leasing for the property. Colliers Arnold was hired as management agent for the project.

“This class A asset squarely meets the target acquisition criteria for Windsor Realty Fund VII with its access to highway infrastructure, retail amenities and executive housing,” says GID vice president of real estate acquisitions Gary Kroll. “It is a newly constructed, value-add opportunity in a dynamic market that should provide superior risk-adjusted returns to our investors.”

Windsor Realty Fund VII in an equity co-investment joint venture between GID and several institutional investors. “Orlando’s demographic and employment growth keep it at the top of our target market list and we look forward to further opportunities in this market,” Kroll says.

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