MG3 Group acquired 8201 Chancellor Drive, a 713,585-square-foot distribution center fully leased to CVS Health. The property’s price was $57 million. The property is situated within Orlando Central Park and was initially constructed in 1975, with subsequent expansions in 1980 and 2000.

Cushman & Wakefield’s Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi represented Tratt Properties in its investment sale with MG3 Group. Tratt paid $41.2 million for the property six years ago.

Cushman & Wakefield’s Colon added, “The CVS Distribution Center represents the extremely rare opportunity to acquire an infill distribution facility in Orlando’s most land-constrained industrial submarket. The facility has been occupied by an investment-grade tenant since 1975 and sits on an irreplaceable location with nearly 43 acres of land and excess car and trailer parking. With Orlando’s rent growth and Orlando Central Park’s low vacancy and main-and-main logistics location, the offering drew tremendous interest from a wide variety of capital sources.”