Search
 

GlobeSt.com EXCLUSIVE: Broker Crafts Complex Industrial Deal

ORLANDO-Regions Bank sells orphaned 43,000-sf building in suburban Apopka to Wiretec Wire World Inc.'s investment group for a recorded price of $568,500. As part of the deal, Metro One Development Co. principal Jay Rohr buys the nine acres behind the facility for $282,000, or $31,333 per acre (72 cents per sf).

By Alex Finkelstein | Updated on July 22, 2003

ORLANDO-It was the sort of deal that most industrial real estate brokers prefer to ignore–a foreclosure loaded with clouded titles and thorny legal issues that conceivably could take years to resolve. But veteran local broker Jay Rohr tackled the chore and did the deal in seven months.

As a result of his efforts, Regions Bank of Birmingham, AL sold an orphaned 43,000-sf vacant building at 2459 Clark St. in suburban Apopka to Wiretec World Wire Inc.’s local investment group for a recorded price of $568,500.

“The recorded price does not at all reflect the costs to make this deal happen, and is (actually) a misleading number,” Rohr tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.