Central Florida Resource Center_Property for Sale
Central Florida Resource Center_Property for Sale
Dot Com Court 5700-5712, Oviedo, FL, 32765, US

Central Florida Resource Center

Asset Description

Jones Lang LaSalle, Inc. (“JLL”) has been retained to market for sale Central Florida Resource Center (“Property”) – a 92.8% leased, three-building, 210,613 SF industrial park located within Orlando, one of Florida’s fastest-growing MSAs, 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 located just off 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 71.0% (11.33% CAGR).

 

Notable tenants at the property include United Healthcare, Siemens, Sciperio, and UCF, who have invested heavily into their spaces and demonstrated a long-term commitment to the park.

 

This exceptionally well-located and recently renovated asset presents investors with a low-maintenance, credit-enhanced investment with additional upside through lease-up and potential development. Over a 5-year hold, The Property, which is expected to benefit from Orlando’s exceptional leasing fundamentals and nation-leading rent growth, is forecasted to grow NOI by 42.9% and 86.1% over a 5 and 10-year hold.

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Attributes

Building area net
19,567 m²
Number of buildings
3
Occupancy
92.8%
WALT
3.17 years

Media

Investment Highlights

  • Rare opportunity to acquire three industrial warehouses within the fast-growing, highly desirable Orlando MSA that are currently 92.8% 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 42.9% NOI growth over the next 5 years. The most recently signed lease was signed at $14.50 PSF, a 39.2% increase from the previous tenant’s rental rate.


  • Mission-critical location 2.4 miles from the University of Central Florida – 69,320 enrollment and $8.1B economic impact and 3.9 miles from Orlando’s Research Park – the largest research park in Florida. Central Florida Resource Center and the few surrounding buildings are the closest pocket of industrial to these two major demand drivers.


  • The Property is leased to a diverse tenant roster with approximately 40% either credit-rated or nationally recognized, and an average WALT of 3.17 years.


  • Seminole County industrial rents have grown 71.0% (11.33% CAGR) over the last 5 years. This strong rent growth is anticipated to continue over the next 5 years with average Orlando market rents forecasted to grow by over 28%.
Central Florida Resource Center 4_Property for Sale
Central Florida Resource Center 4_Property for Sale

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Central Florida Resource Center (0 Properties)

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Last updated
18 Jul 2024