Colliers Brokers Sale of 13-Property Industrial Portfolio
Colliers International’s Orlando office has brokered the sale of a 13-property industrial portfolio in Indiana, Illinois, Wyoming, Florida and Texas. The sales price was not disclosed.
Located across five states, the portfolio totals 715,751 square feet and more than 80 acres. The transaction was structured as a sale-leaseback. The seller, manufacturer and leader in motor reliability maintenance and repair FLANDERS, will continue to occupy all buildings as a tenant and has signed a 20-year lease allowing for multiple renewal options with the new owner.
Joe Rossi and Nick Hanson of Colliers International represented FLANDERS in the transaction. The buyer was not disclosed.
“Industrial transactions have been significantly more active than any other commercial real estate asset type throughout the pandemic,” said Colliers’ Hanson. “And FLANDERS has navigated the pandemic well, which made this a particularly great opportunity for the buyer.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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