The Cypress Industrial Park has been sold to Washington, DC private equity investment firm Militello Capital and Denholtz Associates of Matawan, NJ, in an $18.5 million deal. Located in Orlando at 1903 Cypress Lake Drive, the 256,838 sqf industrial flex portfolio changed hands for just over $72 per sqf. The asset comprises five single-story light industrial buildings on 23.47 acres. The flex building design offers tenants suites ranging from 1,726 square feet to over 33,600 square feet with 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”.
“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.”
