Dot Com Court 5707-5712, Oviedo, FL, 32765, US

Central Florida Resource Center

Attributes

Building area net

18,423 m²

Occupancy

83%

Year built

2008

Land area net

5 ha

WAULT

1.9 years

Asset Description

Jones Lang LaSalle (“JLL”), has been retained to market for sale Central Florida Resource Center – a 83.0% leased, three-building, 198,305 SF industrial park located within Orlando, one of Florida’s fastest growing MSA’s, and less than two miles from The University of Central Florida and four miles from Orlando’s Research Park, two of Central Florida’s largest economic demand drivers. The Property is situated just off of Alafaya Trail and provides access to the greater Orlando MSA via SR 50 (11 minutes) and SR 417 (5 minutes), both of which connect to I-4 and US-27. Over the last 5 years the Property’s submarket, Seminole County, has experienced rent growth of 84.8% (13.1% CAGR).

Tenants at the property include United Health Care, Siemens, Proactive Technologies and UCF, most of whom have invested heavily into their spaces and demonstrated a long-term commitment to this park.

This exceptionally well-located and recently renovated asset presents investors with a low-maintenance, credit-enhanced investment with additional upside through lease-up, mark-to-market, and potential development. The Property, which is expected to benefit from Orlando’s exceptional leasing fundamentals and nation-leading rent growth, is forecasted to grow NOI by 63.4% & 105.0% over a 5 and 10-year hold.

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Investment Highlights

Rare opportunity to acquire three industrial warehouses within a business park in the fast-growing Orlando MSA that are currently 86.3% leased, offering both immediate cash flow and upside potential through mark-to-market and additional development.

Significant value creation opportunities through lease up and mark-to-market providing 53.5% NOI growth over the next 5 years. The most recently signed lease was signed at $14.25 PSF, a 53.7% increase to the previous tenant’s rental rate.

Opportunity to develop up to 34,350 SF on the ± 1.96 acre parking pad with frontage along Dot Com Court.

Mission critical location 2.4 miles from The University of Central Florida – 66,183 enrollment and $7.73B economic impact and 3.9 miles from Orlando’s Research Park – the largest research park in Florida. Ganesh Business Park and the few surrounding buildings are the closest pocket of industrial to these two major demand drivers.