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Dormant,15-Year-Old Industrial Asset Perking Up

ORLANDO-The 2,900-acre International Corporate Park is making its first sale in years. Dallas distributor Sierra Stone Inc. has contracted to buy 37 acres for a 200,000-sf distribution center. The estimated contract price is $3.22 million or about $2 psf. The park is zoned for 20 million sf of commercial.

By Alex Finkelstein | Updated on August 15, 2000

Long an Orphan Annie in a hotbed of surrounding industrial development activity, the 15-year-old, 2,900 International Corporate Park in east Orange County is getting a second life. A total 500 acres are under contract to distribution firms and manufacturers. The deals are expected to close by year end.

Among those transactions is a contract from Dallas distributor Sierra Stone Inc. for 37 acres to build a 200,000 sf distribution center. The estimated contract price is $3.22 million or about $87,120 per acre ($2 psf), brokers familiar with the deal tell GlobeSt.com. The sale is expected to close within 90 days.

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