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Dec

04

Partnership Buys Two Orlando Industrial Portfolios

By Tony Seruga

Brennan Investment Group sold the two assets for $17 million. The new owners plan to reposition the properties to increase occupancies and revenue growth.

A partnership between Denholtz Associates and Militello Capital has purchased two industrial/flex portfolios in Orlando, Fla., for $17 million from Brennan Investment Group. The Silver Star Portfolio is an eight-building, 254,915-square-foot portfolio acquired for $12 million, while the Parkway Commerce Center is a two-building, 91,500-square-foot property bought for $5 million.

Located at 3600-3802 Silver Star Road, the buildings making up the Silver Star Portfolio range in size from 26,400 to 39,600 square feet and the entirety of the portfolio is currently 95 percent leased to 30 different tenants. With a 68 percent occupancy rate, the Parkway Commerce Center is located at 3501 Parkbreeze Court, with 23 tenants currently leasing the property…

Partnership Buys Two Orlando Industrial Portfolios

Categories : Commercial Real Estate

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