Mike Davis, Michael Lerner and Rick Brugge Represented Colony Northstar in the Disposition of a ±181,000-Square-Foot Warehouse and Distribution Facility in the Orlando Central Park Submarket
ORLANDO, FL, March 20, 2018 — Cushman & Wakefield has negotiated the sale of La Quinta Distribution Center, a 181,394-square-foot industrial facility in the Orlando Central Park industrial market.
The Cushman & Wakefield capital markets team of Vice Chairman Mike Davis, Executive Director Michael Lerner and Executive Director Rick Brugge negotiated the sale on behalf of Dallas-based Colony Northstar. Cabot Properties, a Boston-based private equity real estate investment firm, acquired the asset for $11 million.
La Quinta Distribution Center is a single-story, front-load warehouse and distribution facility developed in 1973. The concrete block building is located on a 9.2-acre site at 1264 La Quinta Drive. La Quinta Distribution Center was fully occupied by two tenants at the time of sale, including Verizon Wireless, the building’s largest tenant.
“La Quinta Distribution Center is extremely well-located in the Orlando Central Park submarket, the premier industrial location in Orlando, and is an excellent addition to Cabot’s existing Central Florida portfolio,” said Lerner.
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