Marcus & Millichap announced today the sale of Kissimmee Industrialin Kissimmee, Florida. The 7.30-acre property sold for $11,500,000.
“This sale demonstrates the continued strength in the industrial market in the greater Orlando market as well as throughout Florida,” stated Douglas K. Mandel, executive managing director.
Mandelalong with Braden Dwyer had the exclusive listing to market the property on behalf of the seller, Kissimmee Flexxspace, LTD. The buyer, The Geneva Group, in partnership with Genet Property Group, was also procured by Mandel and Dwyer.
“We see the secondary Florida markets like Kissimmee being the beneficiary of an increasing affordability issue in the major markets. We will continue to scale in these markets,” said Jarred Elmar, the buyer from The Geneva Group.
Kissimmee Industrial is located at 2420-2450 Smith Street and is within close proximity to Interstate 4 and the Florida Turnpike. Built in 1999 and renovated in 2006, the property includes three multi-tenant industrial buildings with 72 drive-in loading doors and one dock-high loading door.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.