ORLANDO—The sale of a 215,900-square-foot industrial asset is showing that class B still has some muscle in Orlando. Marcus & Millichap brokered the deal for $8.07 million.
Douglas K. Mandel, a first vice president Investments in M&M’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Orlando. Mandel also secured the buyer, a limited liability company from Boston.
“This deal provided an investor with the opportunity to acquire a quality product with a long-term, investment grade tenant,” Mandel says. “It is centrally located in one of Orlando’s premier submarkets on the outside edge of the Orlando Central Park, which is home to over 100 major manufacturers, distributors and employers.”
The class B light manufacturing property is is 100% occupied by Sonoco Consumer Packing Group, a division of Sonoco Products Co. The building offers about 8% office space and 92% manufacturing space and features 13 dock doors and four rail doors with ceiling heights of 18 to 30 feet.
The Orlando industrial property also includes a 5,400-square foot truck maintenance building with three bays and space for on-site trailer parking. The light industrial asset is located close to the Florida Turnpike, Interstate 4, and Highway 44 at 1854 Central Florida Parkway in Orlando.