Sandlapper Capital Investments has acquired a 3-property portfolio of Collis Roofing from for L&B Holdings of Longwood for $9,250,000. The properties include the 58,000 square foot Collis Roofing’s corporate headquarters in Longwood; 13,817 square foot East Coast headquarters facility in Melbourne, Florida; and a third building spanning 14,505-square-feet of office and industrial space in Lakeland which served as the Gulf Coast headquarters for Collis. Marcus & Millichap Senior Vice President Douglas K. Mandel represented both parties in the transaction.
“Each of the three buildings included in the portfolio were extremely well located and positioned to take advantage of growing demand in the Central Florida Market, ” commented Mandel. “The buyer is a syndicator and bought the deals because of the strong financials of the tenant, coupled with the term of the lease and the escalating yield. It’s a buy/hold strategy.”
