Dalfen Industrial has acquired Sanford Logistics Center in Sanford, Forida – a northern suburb of Orlando. The transaction was represented by Cushman Wakefield’s Jared Bonshire and Mike Davis.
Sanford Logistics Center is a newly constructed, 113,149 square foot building with the modern characteristics desired by the current e-commerce tenants. At acquisition, the building is 50 per cent occupied with Marine Fasteners signing a 10-year deal. In an area that mostly features older assets, the remaining space is in high demand.
In addition to the exploding population growth in Orlando, this state-of-the-art building is in the Sanford/Lake Mary submarket – one which is known for its strong labor pool and higher-than-average income levels. The property boasts frontage along SR-417 and is within 10 miles of I-4 and the Orlando Sanford International Airport. In addition, the Wekiva Parkway extension under construction, which will connect SR-417 to SR-429, will increase accessibility to western Orlando – boosting demand further for this submarket.
“With industrial demand in this market is rising quickly due to the rapid population growth,” says Mark Bowen, SVP and Head of Investments for Dalfen, “This new last mile property in such a key location makes this acquisition another great addition to our portfolio.”
“Expanding our Orlando portfolio with Sanford Logistics Center adds another last mile location in a key market for Dalfen,” says company President and Chief Investment Officer, Sean Dalfen. “With the low cost of living, low taxes, and the ease of access to the Tampa, Jacksonville, and Miami MSAs, Orlando will continue to be a focus for Dalfen Industrial.”
This year alone Dalfen Industrial has acquired and developed in excess of USD1.2 billion of last mile industrial property.