CBRE to Market Orlando Site for Industrial Development
- Oct 04, 2017
Highlands REIT selected CBRE to market the Orlando Distribution Center, one of the last available land sites zoned for industrial development in Southwest Orlando. The 101-acre property offers 4,000 linear feet of frontage on West Sand Lake Road.
Located in the southeast quadrant of West Sand Lake Road and Perimeter Road, the site can accommodate a wide range of industrial uses, including service center and flex with commercial exposure. The tract can accommodate large industrial facilities of up to 800,000 square feet and provide space for the new wave of statewide logistics centers.
CBRE’s Central Florida Industrial Services team of Senior Vice President David Murphy, First Vice President Robert McEwan and Senior Associate Monica Perez are leading marketing efforts on behalf of the owner. Highlands REIT is an independent, self-advised, non-traded REIT created in 2016 as a spin-off of InvenTrust Properties, a REIT that owns, manages and leases multi-tenant outdoor shopping centers.
High demand for industrial sites
“We call this site the ‘hole in the donut.’ It’s the largest remaining industrial tract in the premier Southwest Orange County submarket and it will provide the buyer with an immediate market-leading position,” said Murphy, in prepared remarks. “From last-mile capability to e-commerce and high rent-generating industrial park, this site can handle it all. With the proliferation of e-commerce and the demand for industrial property growing exponentially, we’re expecting high interest for this property from industrial developers.”
The property is close to the Orange County Convention Center and major distribution corridors ideal for statewide delivery. CBRE is marketing the site through Oct. 15, and the buyer will be selected the week of Oct. 16. Recently, CBRE Capital Markets also began marketing a portfolio of two office buildings in Miami and Boca Raton, Fla.
Image courtesy of CBRE