February 24, 2017
Colony NorthStar acquired four Class A warehouse and distribution buildings, totaling 946,379 square feet, in Orlando, FL’s Southwest Industrial Corridor. The Los Angeles and New York-based buyer paid $67.1 million for the assets to a state pension fund, advised by L&B Realty Advisors LLP of Dallas. Cushman & Wakefield’s Mike Davis, Michael Lerner and Rick Brugge represented the seller.
The four-building portfolio, one of the largest industrial portfolios offered for sale in Orlando, consists of Beachline Distribution I, Beachline Distribution Center II (2501 and 2507 Investor Row), Crossroads Business Park V and Crossroads Business Park VI (401 and 501 Gills Dr.). The buildings are 100% occupied, with tenants including FedEx Smartpost, Dusobox, McKesson, Mattress One, Petco, and US Mattress Depot.
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