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117K-SF Distribution Center Acquired
Boston-based Cabot Properties acquired the two-building, 117,600-square-foot North Park Commerce Center in Orlando, FL. The buyer paid seller McDonald Development Co. $10.4 million for the asset at 3800 and 3830 Enterprise Way, in Orlando’s Lake Mary/Sanford Industrial Market. Mike Davis, Michael Lerner and Rick Brugge with Cushman & Wakefield represented the seller.
The property was 90% lease at the time of sale, with tenants including Carrier Enterprises and Goodman Distribution. “Although the majority of the Lake Mary/Sanford submarket inventory is comprised of older, less functional buildings, there is strong demand for quality, small bay, rear-load industrial space,” Lerner said.
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