May 6, 2016
Colony Capital paid $55.7 million for Crownpointe I-IV, a four-building industrial portfolio. Cushman & Wakefield represented Dallas-based Invesco in selling the 669,010-square-foot warehouse and distribution center. The industrial sale represents one of the largest in Orlando’s history.
The portfolio at 7312-7576 Kingspointe Pkwy. is 94.5% occupied. Tenants include Mattress Firm, Wilsonart, RaceTrac Petroleum and Beyond Logistics. The portfolio was built between 2000-2006 on 40 acres in Orlando’s CrownPointe Commerce Park.
“The opportunity to acquire an industrial portfolio of this size and quality in Orlando is extremely rare and, as a result, investor interest was among the strongest I have seen in my 20 years in the business,” said Cushman & Wakefield’s Michael Lerner. Lerner teamed with Rich Brugge and Mike Davis on the transaction.