Denholtz Associates & Militello Capital Close $18.5 Million Acquisition in Orlando, Florida1.27.2017
Orlando, F.L. – (January 18, 2017) —Denholtz Associates announces the acquisition of Cypress Industrial Park, a 256,838-square-foot industrial flex portfolio in Orlando, Florida. Located in the in the heart of the central Florida industrial market, the portfolio was acquired for $18.5 million in partnership with Militello Capital, a greater Washington, DC private equity investment firm.
Cypress Park is comprised of five, single-story light industrial buildings totaling 256,838 square feet on 23.47 acres. The flex building design offers tenants suites ranging from 1,726 square feet to over 33,600 square feet (one single tenant building) and both grade level and dock high loading. The buildings were constructed between 1987 and 1997 with tilt-wall construction and an average clear height of 19’ 6”. The Central Florida industrial market is highly sought after by small and large companies due to its close proximity to all of the major transportation arterials, making it easy for customers to distribute on a local, regional and national level.
“Our partnership with Militello Capital to acquire Cypress Park provides us with an exciting opportunity to expand our existing footprint in the rapidly growing Orlando submarket,” said Stephen Cassidy, President of Denholtz Associates. “We see the Florida industrial market as an area with strong growth potential and look forward to continuing to strategically target investment opportunities in the state with the help of our capital partners like Militello Capital.”
“The opportunity to partner with Denholtz and acquire such an attractive asset in a thriving market such as Orlando was very appealing,” says Matt Brady, Co-Founder and Chief Operating Officer of Militello Capital. “We look forward to owning this asset and appreciate the trust and confidence that our investors and their advisors place in us.”