Cypress Park

9500, 9535, 9603, 9777, 9901 Satellite Blvd., Orlando, FL, 32837, US

Description

JLL has been exclusively retained to market for sale Cypress Park – an infill, last-mile, light industrial park located directly off the Florida's Turnpike–US 441 interchange in the highly desirable Southeast Orange submarket of Orlando, Florida.

The 256,838 square foot park contains five highly functional and desirable industrial buildings which are 99% leased with an average tenure of 13.5 years and strong 5-year historical occupancy of 96%.

The Property's rent roll offers 2.6 years of remaining lease term with in-place rents that yield a 34% un-trended mark-to-market opportunity, providing for 46% NOI growth over the first five years of the projection.

The Property benefits from a strategic location in the heart of one of the nation's fastest-growing industrial markets for rent and population growth. Cypress Park is also located less than 15 minutes from Orlando's central business district, Orlando International Airport, and Orlando-Sanford International Airport, via major statewide transportation arteries Florida's Turnpike, US 441, and I-4 offering unparalleled last-mile logistics capabilities with the ability to reach six out of the ten fastest-growing counties in Florida and over 6.4M people within a 90-minute drive.

This offering provides investors with the rare opportunity to acquire a critical mass of highly functional light industrial assets in one of the fastest growing SE US cities, at a discount to replacement cost, with an actionable WALT, demonstrated un-trended mark-to-market potential, and 46% projected NOI growth over the next five years from a diverse and tenured tenant base.

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Attributes

Buildings

Building area net

256,838 sf

Land area gross

23.39 acres

Occupancy

99%

WALT

2.6 years

Mark-to-Market

34%

Media

Investment highlights

RARE OPPORTUNITY OF SCALE IN ONE OF THE FASTEST-GROWING INDUSTRIAL MARKETS IN THE NATION

• Totaling 256,838 SF, the Property offers a rare opportunity to acquire a highly functional and versatile infill light industrial campus of scale in one of the top five fastest-growing markets in the nation for market rent and population growth.

STRONG, PROVEN IN-PLACE CASH FLOW WITH IMMENSE NEAR-TERM UPSIDE POTENTIAL

• 99% leased with $2.8M In-Place NOI and 3.6% weighted average annual escalations.

• Average tenure of 13.5 Years across 26 tenants with an average 5-year historical occupancy of 96%.

• Proven MTM with minimal concessions ($0.13 PSF TI & 1.3 months free rent) and average downtime (2.5 months) on new deals since 2023.

• Actionable 2.6 Year WALT (57% of the NRA rolls by Year 4) with immense 34% un-trended MTM potential.

• 46% 5-Year and 98% 10-Year NOI growth potential.

ATTRACTIVE VALUE PROPOSITION POISED FOR LONG-TERM SUCCESS

• Attractive acquisition basis below recent market trades ($215 PSF) and at a discount to replacement cost ($235 PSF).

• The Property benefits from significant recent capital improvements totaling over $2M.

STRATEGIC INFILL ORLANDO LOCATION WITH QUICK ACCESS TO CRITICAL LOGISTICS INFRASTRUCTURE

• The Property is less than 15 minutes from Orlando’s CBD and critical Orlando MSA logistics infrastructure including Orlando International Airport and Orlando-Sanford International Airport via major transportation arteries: Florida’s Turnpike, U.S. 441, and I-4.

IDEAL BAY SIZES OFFER MAXIMUM TENANT FLEXIBILITY & ABILITY TO CAPTURE IMMENSE RENT GROWTH IN THE HIGHEST VELOCITY MARKET SEGMENT

• Diversity of buildings, bay sizes, buildouts, and loading provides an ideal offering to capture a broad range of tenants, maximize rental rates, and provide ample tenant flexibility.

• Average bay size is just under 9K SF with spaces ranging from 1K-34K SF which is the market’s fastest-growing and highest-velocity market segment.