CBRE National Partners Arrange Sale of Northwest Distribution Center in Apopka, Florida

CBRE has arranged the sale of a 646,436-sq.-ft. industrial portfolio in Apopka, Florida. New York-based Clarion Partners purchased the property on behalf of a client from Newark-based PGIM Real Estate. The transaction closed on September 28.

CBRE National Partners’ Jose Lobón, Frank Fallon, and Trey Barry represented the seller in the transaction. The team was assisted by CBRE’s David Murphy, Royce Rose, and Alain Bonvecchio.

“Given the exceptionally strong demand for space in the Northwest Orange County industrial submarket, this portfolio provides a unique opportunity as favorable lease economics continue to push market rents while keeping vacancy low,” said CBRE Vice Chairman Jose Lobón. “With over 18 million people located within a 200-mile radius, few markets in the country have benefited more than Orlando from the supply chain shift caused by e-commerce and demands for same day and next day delivery.”

Located immediately off State Road 429, the four-building portfolio was 85 percent leased to eight tenants at the time of sale. Northwest Distribution Center offers premier access to Orlando’s population base with over 2.9 million people living within a 30-minute drive.

All four buildings feature clear span heights between 28 feet and 32 feet, ESFR sprinklers, and over 40 dock doors. Buildings A and B were built in 2008, while Buildings C and D were built in 2017.

Building A is located at 1401 Ocoee Apopka Road and totals 117,048 sq. ft.
Building B is located at 1451 Ocoee Apopka Road and totals 200,232 sq. ft.
Building C is located at 1349 Ocoee Apopka Road and totals 149,156 sq. ft.
Building D is located at 1501 Ocoee Apopka Road and totals 180,000 sq. ft.