Denholtz Properties sells two Orlando industrial properties totaling 511,000 square feet
June 13, 2024
Denholtz Properties announced the sale of Cypress Industrial Park, located at 9500-9901 Satellite Boulevard in Orlando, Fla., and Silver Star Commerce Center, located at 3702 Silver Star Road in Orlando, Fla. A JLL Capital Markets team led by Managing Director Luis Castillo, Senior Director Cody Brais and Analyst Taylor Osborne represented Denholtz Properties in both transactions.
Silver Star Commerce Center, acquired by Denholtz Properties in 2017 through a joint venture partnership with Long Wharf Capital, a Boston-based private equity real estate management firm specializing in value-add investments in the U.S., is an eight-building, 254,915-square-foot industrial flex property that is currently 92% leased. It boasts a strategic location due west of North John Young Parkway with close proximity to State Route 434, U.S. Highway 441 and Interstate 4. Additionally, Orlando International Airport is less than 12 miles from the property.
Cypress Industrial Park, also acquired in 2017, is comprised of five single-story light industrial buildings totaling 256,838 square feet on 23.47 acres. The fully leased property is less than 15 miles from Silver Star Commerce Center and is easily accessible from Interstate 4, the Florida Turnpike and Orlando International Airport.
“We have built a highly efficient operating platform that allows us to flawlessly execute on a simple strategy: extracting value from underperforming properties,” said Steven Cassidy, president of Denholtz Properties. “This approach has enabled us to complete our investment strategy with each of these properties and we look forward to identifying similar capital allocation opportunities across the United States.”