Newly completed Class A industrial facilities in Orlando trade for $30.1M
JLL Capital Markets closed the sale of the 262,200 SF International Corporate Park to Oaktree
ORLANDO, September 21, 2022 – JLL Capital Markets announced today that it has closed the $30.1 million sale of International Corporate Park, two newly constructed logistic facilities totaling 262,200 square feet in Orlando, Florida.
JLL represented the seller, Whitley Capital, in the sale to funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
International Corporate Park consists of two Class A buildings with a shared truck court and ample parking. Building 1, which offers 143,000 square feet, is a fully leased, rear-load building with 32’ clear heights, 35 dock doors and 184 car parking spaces. Building 2 is a 119,200-square-foot, front-load building with 32’ clear heights, 22 dock doors and 140 car parking spaces.
Located on 16.5 acres at 8695 Transport Dr., International Corporate Park is just off the Beachline Expressway, which connects with Interstates 95 and 4, the Orlando Beltway (State Route 417) and Florida Turnpike, offering immediate access to major demand drivers and population centers within the state. As a result, the property is positioned to reach 23% of Florida’s 21.6 million residents within a 90-minute drive. In addition, the property is 13 minutes from the Orlando International Airport and is near major demand drivers such as Universal Studios Florida, SeaWorld Orlando, Orlando Orange County Convention Center and more.
The JLL Capital Markets and Industrial Brokerage team representing the seller was led by Managing Directors Luis Castillo, Britton Burdette and Joe Hills, Executive Vice President Josh Lipoff and Director Cody Brais.
"We continue to see strong demand from capital sources seeking industrial opportunities in high-growth markets like Orlando,” said Castillo. “Oaktree astutely secured this acquisition on a forward basis and will now benefit from even more robust leasing fundamentals.”
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 JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $159 billion in assets under management as of June 30, 2022. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 20 cities worldwide. For additional information, please visit Oaktree’s website at oaktreecapital.com/.