Industrial buildings in Orlando sell for $17.1 million
A real estate company and a private equity firm bought a group of industrial flex buildings in Orlando for a total of $17.1 million.
New Jersey-based Denholtz Associates and Washington, D.C.-based private equity firm Militello Capital paid about $49 per square foot for the buildings, which have a total of 346,415 square feet.
Denholtz and Militello paid $12.05 million for a portfolio of eight buildings with 254,915 square feet of industrial flex space.
The eight buildings at 3600-3802 Silver Star Road in Orlando, which range in size from 26,400 square feet to 39,600 square feet, have 30 tenants and a 95 percent occupancy rate.
The buyers also acquired a nearby industrial flex building called Parkway Commerce Center at 3501 Parkbreeze Court in Orlando, which has 23 tenants and a 68 percent occupancy rate.
Other holdings of Denholtz in Orlando include 100 East Pine, a six-story, 82,892-square-foot office building in the downtown area and five industrial buildings totaling 256,838 square feet. –Mike Seemuth
Source: The Real Deal