Five-building industrial park sells for $40.5M in Orlando
Harbert Management Corporation purchases Cypress Park in Florida
MIAMI, Apr. 23, 2024 – JLL Capital Markets announced today that it arranged the $40.5 million sale of Cypress Park, an industrial park totalling 256,838 square feet in Orlando, Florida.
JLL represented the seller and procured the buyer, Harbert Management Corporation.
Cypress Park consists of five buildings located at 9500-9901 Satellite Blvd. The fully occupied industrial park is situated on 23.47 acers and features 20- to 24-foot clear heights and rear-load capabilities.
Cypress Park is centrally located within an established industrial pocket of Orlando largely institutionally owned and comprised of national tenants within some of the market’s premier buildings. The industrial park is 10 minutes from Orlando International Airport (MCO) and 16 minutes from Downtown Orlando.
The JLL Capital Markets team was led by Managing Director Luis Castillo, Senior Director Cody Brais and Analyst Taylor Osborne.
“The successful closing of Cypress Park represents the continued strength and institutional demand for highly functional warehouses with great access within the South Orange submarket of Orlando,” noted Brais.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About Harbert Management Corporation
Harbert Management Corporation, an alternative asset management firm with approximately $7.8 billion in Regulatory Assets Under Management as of March 31, 2024 is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, fund of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, U.S. growth capital, credit solutions, infrastructure, and absolute return funds. For additional information about HMC visit harbert.net.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.