Quirch Foods – Orlando (2023)_Property for Sale
Quirch Foods – Orlando (2023)_Property for Sale
2292 Sand Lake Rd, Orlando, FL, 32809-7638, US

Quirch Foods – Orlando (2023)

Asset Description

​​​​​​​Jones Lang LaSalle, Inc. (“JLL”) has been exclusively retained to market for sale the fee simple interest in 2292 W Sand Lake Rd (the “Property” or “Sand Lake”) in Orlando, FL. This 149,570 SF freezer-cooler warehouse provides a strategic last-mile location for both local and regional distribution serving some of Florida’s major demand drivers like MCO airport, Port Canaveral, downtown Orlando and several globally-renowned theme parks, with access to over 3.5 million consumers within a 60-minute drive via Orlando’s major thoroughfares including: I-4 (3.8 miles away), FL Turnpike (2.6 miles away), and John Young Pkwy (1.0 miles away).


The Property is 100% leased to Quirch Foods, an international food distribution company, which has grown to be one of America’s Largest Private Companies (#132 Forbes) with recent revenue of ~$5B and 2,000+ employees. Quirch Foods has been at this location for over 17 years. 2292 W Sand Lake Rd is a highly functional cold-storage building that plays an important role in Quirch Food’s distribution network. Building features include full freezer capability, six flexible temperature zones, 23’5”-24’7” clear heights, and a recent capital improvement plan totaling $3.7M in addition to significant capital from the Tenant to update and modernize the facility.

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2292 W Sand Lake Rd presents a rare opportunity to acquire an important last mile cold storage facility in one of the US’ fastest growing MSAs at a discount to replacement cost with strong in-place cash flow, minimal go-forward capital investment, and future upside through above-market contractual lease escalations, mark to market, and rental appreciation.


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Attributes

Building area net
149,570 sf
Occupancy
100%
Year built
1971

Media

Investment Highlights

• Mission critical cold storage facility in the heart of Orlando, one of the fastest growing MSAs in the country

• Offered significantly below replacement cost ($350+ PSF) with meaningful medium-term mark-to-market potential

• Durable income provided through Quirch lease with 5.3 years remaining, outsized 7% escalations and future upside potential for rental growth upon expiration

• One of only 11 freezer capable buildings over 50K SF in the greater Orlando area (all others fully occupied)

• Long term value creation opportunity through the lease up of 28 additional trailer storage spaces


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Quirch Foods – Orlando (2023) (0 Properties)

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Last updated
11 Jul 2024