Jones Lang LaSalle Incorporated: Silver Star Commerce Center Trades for $36.5M in Florida
In a significant transaction on the commercial real estate front, Jones Lang LaSalle (JLL) Capital Markets has successfully negotiated the sale of Silver Star Commerce Center, an impressive industrial park in Orlando, Florida. The deal, which closed at $36.5 million, marks an important event for the local market and the parties involved.
Silver Star Commerce Center boasts a total area of 254,915 square feet, encompassed within eight distinct properties. This sprawling industrial park is spread across 20 acres, featuring properties at 3600-3802 Silver Star Rd. and 3717-3763 Mercy Star Ct. One of the key highlights of this industrial locale is its impressive height clearance of 18 to 20 feet and handy rear-load capabilities, catering effectively to various operational logistics.
The center’s strategic location within the Northwest Orange County submarket places it in one of the largest zones in the metro by inventory. It enjoys proximity to the central business district, significantly enhancing its accessibility and appeal. Major roadways such as Interstate 4, the Florida Turnpike, State Road 429, and U.S. Route 441 service the area, ensuring seamless connectivity for businesses operating within the park. Currently, the park is 92 percent occupied by 27 tenants, underlining its popularity and the robust demand for industrial space in the region.
Denholtz Properties and Long Wharf Capital are the new owners of this prime real estate asset, having been procured as buyers in the deal facilitated by JLL. The sale of Silver Star Commerce Center is not just a win for the parties directly involved but also signifies the strength and vitality of the Orlando commercial real estate market.
The transaction was led by a dedicated team from JLL Capital Markets, including Managing Director Luis Castillo, Senior Director Cody Brais, and Analyst Taylor Osborne. Their collective efforts have been instrumental in navigating the complexities of the deal, underlining JLL’s commitment to delivering top-notch services in the real estate sector.
Commenting on the sale, Cody Brais reflected on the factors contributing to the high interest in this property, stating, “Silver Star Commerce Center’s physical attributes, attractive mark-to-market, and compelling market fundamentals drove broad interest in this offering from a variety of capital sources.” He further added, “We are thrilled to have represented the seller in this exciting transaction and to have achieved a mutually beneficial outcome for both parties involved.”
JLL Capital Markets stands as a beacon in the realm of global capital solutions for real estate investors and occupiers. With an extensive network of over 3,000 specialists across nearly 50 countries, JLL Capital Markets continues to spearhead investment sales, advisory services, and comprehensive capital solutions with unmatched expertise and market insight.
This recent sale of the Silver Star Commerce Center underscores the dynamic nature of the Florida real estate market and JLL’s pivotal role in shaping its landscape. As the market evolves, the firm’s deep local knowledge and global perspective remain invaluable assets to investors and occupiers alike.
