Orlando-Area Industrial Park Sells for Record Price
- Sep 27, 2019
WGCC Properties LLC has sold Winter Garden Commerce Center, Class A, four-building industrial park totaling 140,929 square feet in Winter Garden, Fla. According to Orange County public records, KKR purchased the asset for $21.6 million, the highest price per square foot for an industrial sale in Orlando. JLL assisted the seller in the transaction and has been selected as exclusive leasing partner and property manager.
Located at 661, 671, 681 and 691 Garden Commerce Parkway, the 9.7-acre property is roughly 14 miles west of downtown Orlando, within the N.W. Orange County Industrial submarket. The industrial park has easy access to both Florida Turnpike and Western Beltway.
Completed in 2018, Winter Garden Commerce Center features 20- to 24-foot clear heights, 36 dock-high doors, 36 grade-level doors, four ramps and a 140-foot shared truck court. The property is 94.9 percent leased to 15 local, regional and national tenants.
JLL Capital Markets Senior Vice President Bret Felberg, together with Managing Directors Britton Burdette and Pete Pittroff, led the team that negotiated the deal on behalf of the seller. The JLL Leasing and Property Management team includes Senior Vice President Bobby Isola and Managing Directors Wilson McDowell and Matthew Sullivan.
In July, KKR acquired a multi-state industrial portfolio totaling 565,644 square feet. The properties were purchased from three different sellers.