Dalfen America pays $28.8M for
Central Florida industrial portfolio

The company bought the 426,000-square-foot portfolio in Lakeland and Winter Haven for $67 per square foot

Jan.January 21, 2018 03:00 PM

4070 South Pipkin Road in Lakeland (Credit: Buckner Commercial Properties)

Dalfen America Corp. bought a portfolio of four industrial buildings in Central Florida for $28.8 million.

Parkway Partners sold the 426,000-square-foot industrial portfolio, including three buildings in Lakeland and one in Winter Haven, for $67 per square foot.

Brokerage firm JLL, which represented the seller in the transaction, said the price paid for the portfolio equated to a 5.6 percent capitalization rate, or net operating income divided by sale price.

The three industrial buildings in Lakeland are located at 4070, 4035 and 4150 South Pipkin Road in a development called Parkway Corporate Center. The fourth building is 16 miles east of Parkway Corporate Center at 750 42nd Avenue in Winter Haven.

The four buildings are 85 percent leased. All four were built within the last 10 years.

“We are seeing a lot of equity and capital out in the [Central Florida] region’s commercial real estate market as owners and investors continue to chase Class A industrial space,” Ryan Vaught, a senior vice president of JLL, said in a prepared statement. Vaught represented the seller of the four-building portfolio. [Commercial Property Executive]Mike Seemuth

Related Articles

Rendering of Bridge Point 595 and Kevin Carroll

Bridge Development nabs $60M loan for Davie industrial project

3208 Northwest 72 Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps and Getty Images)

Blackstone buys industrial portfolio near Miami airport for $56M

Public Storage CEO Ronald Havner (Credit: Twitter)

Public Storage picks up industrial portfolio in Miami-Dade for $63M

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

Trio of industrial buildings in Riviera Beach Opportunity Zone sell for $11.7M

Google to invest $13B in real estate across the US

Placeholder image

A 12-year-old apartment complex with a 98% occupancy rate sells for $50M

Two apartment properties in the Interstate 4 corridor sell for $72.6M