Liberty Property Trust has sold an industrial building in Orlando to an undisclosed buyer for $35.5 million. Located at 8201 Chancellor Drive, the property traded for just under $50 per square foot. Before the sale, Liberty concluded a long term lease with CVS, the building’s only tenant. The sale marks one of the largest industrial building transactions in the greater Orlando area in the past five years. CBRE represented Liberty in the transaction while the buyer was advised by Exan Capital LLC.
Liberty’s 106 million square foot portfolio includes 728 properties include office, distribution and light manufacturing facilities for 1,700 tenants. It owns and manages 3.6 million square feet of industrial space in the Orlando market with significant holdings in Liberty Park at AIPO, Beachline Industrial Park, and the Cypress Park Commerce Center.
“Liberty remains very committed to the Orlando market and we continue to focus on growing our industrial portfolio,” said Stephen Whitley, senior vice president and city manager for Liberty in Orlando. “We have just developed two new buildings and there are more in the planning stages.”
