Orlando warehouse sells for $70 per square foot

Miami /
Apr.April 24, 2016 01:30 PM

A real estate investment trust based in Chicago bought its second warehouse and distribution center in Orlando for $14.03 million in an off-market transaction.

First Industrial Realty Trust Inc. paid $70.48 per share foot for an industrial building spanning 199,000 square feet. The seller is an entity related to Panattoni Development Corp. LLC of Sacramento, California.

The industrial building is located northwest of downtown Orlando at 4473 Shader Road in the Center of Commerce business park.

The building was completed last year as a build-to-suit project for Tech Packaging Inc. of Jacksonville, whose customers include such packaged product companies as PepsiCo Inc., Kellog’s and Ocean Spray.

Bobby Isola,  Wilson McDowell and Matt Sullivan of Cite Partners LLC represented Panattoni Development in the transaction.

Rich Cavano of Cavano Realty LLC represented publicly held First Industrial Realty Trust, a New York Stock Exchange company listed under ticker symbol FR.

An entity related to First Industrial in January bought a fully-leased, 126,000 square-foot American Tire distribution center in Orlando for $9.3 million from Eisenberg Industrial Partners II LLC.  [Orlando Business Journal] — Mike Seemuth


Related Articles

arrow_forward_ios
Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

Sunny Isles mayor sells Hialeah warehouse for $13M

Sunny Isles mayor sells Hialeah warehouse for $13M
8150 NW 64th Street and Longpoint Realty Managing and Founding Partner Dwight Angelini (Credit: Google Maps)

Longpoint Realty picks up warehouse near MIA

Longpoint Realty picks up warehouse near MIA
AEW Capital Management's Jeff Furber and 7200 Northwest 25th Street (Credit: Google Maps)

Cofe Properties sells warehouse portfolio near MIA for $25M

Cofe Properties sells warehouse portfolio near MIA for $25M
South Florida firms buy Orlando retail center amid “fear of the death of brick-and-mortar retail”

South Florida firms buy Orlando retail center amid “fear of the death of brick-and-mortar retail”

South Florida firms buy Orlando retail center amid “fear of the death of brick-and-mortar retail”
State agency approves bond issue to finance Virgin Trains expansion to Orlando

State agency approves bond issue to finance Virgin Trains expansion to Orlando

State agency approves bond issue to finance Virgin Trains expansion to Orlando
Fuddruckers franchisee sues Dezer firm to prevent redevelopment of Orlando mall

Fuddruckers franchisee sues Dezer firm to prevent redevelopment of Orlando mall

Fuddruckers franchisee sues Dezer firm to prevent redevelopment of Orlando mall
Home-value estimator Zillow expands service that puts money where its mouth is

Home-value estimator Zillow expands service that puts money where its mouth is

Home-value estimator Zillow expands service that puts money where its mouth is
Miami-based firm sells Springhill Suites hotel near Orlando for $11.65M

Miami-based firm sells Springhill Suites hotel near Orlando for $11.65M

Miami-based firm sells Springhill Suites hotel near Orlando for $11.65M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...