CBRE announced that it has facilitated the sale of one of Southwest Orlando’s last available land sites zoned for industrial development. The Orlando Distribution Center, which is located on the southeast quadrant of West Sand Lake Road and Perimeter Road, was acquired by Universal Orlando for $27.5 million.
David Murphy, Robert McEwan, and Monica Wonus of CBRE's Orlando office represented the seller, Highlands REIT, in the transaction. The land parcel was listed for sale in September.
“In 20 years of transacting industrial property in Central Florida, I have never seen the demand we saw for this site,” said Mr. Murphy, senior vice president, CBRE. “In the end, it was Universal’s ability to close immediately that allowed it to win the bidding process."
The Orlando Distribution Center was one of the last and largest available vacant land sites in Orlando’s tourism corridor. The property offers 4,000 linear feet of frontage on West Sand Lake Road.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.