Orlando-Area Industrial Development Lands New Tenant
- Apr 20, 2018
Maintenance Supply Headquarters has signed a lease for 88,554 square feet of industrial space at The Park @ 429, BlueScope Property Group’s 613,400-square-foot development in the Ocoee/Winter Green submarket of Orlando, Fla. The owner/developer anticipates the first two buildings of the project—currently under construction and 96 percent leased—will be completed later this month.
The tenant is expected to move into the space over the summer, following the owner’s build-out work. Located at 200 E. Crown Point Road in Ocoee, Fla., the asset is positioned within a mile of Florida State Route 429, enabling access around the Orlando area. Maintenance Supply Headquarters will operate a distribution center at its new location, which features 32-foot clear heights, a 130-foot truck court and tilt-wall construction.
Modern building, booming market
A Cite Partners team, led by Wilson McDowell, Matt Sullivan and Bobby Isola, represented the owner in the transaction. In addition to leasing, the firm is managing the five-building Class A Orlando-area industrial park. Colliers International’s Rich Davis acted on behalf of the tenant.
“This deal is another sign of the strength of our market. The industrial market posted another strong quarter with over 1 million square feet of absorption. Demand continues to outpace supply, but developers are still being very disciplined this late in the cycle. We expected to lease this building from four to eight tenants, but ended up with three,” Wilson McDowell, managing director & principal with Cite Partners, told Commercial Property Executive.
Image courtesy of Cite Partners