Strang Communications Buys Warehouse

LAKE MARY, FL-Shooting to equal his record $50-million production mark of 2002, NAI Realvest Partners Inc. senior vice president Michael Heidrich closed a $2.5-million industrial deal in 60 days for Strang Communications, a major magazine publisher in this Orlando suburb.Heidrich negotiated a below-replacement price of $42.53 per sf for Strang in its acquisition of the 13-year-old, 57,600-sf property at 1051 Sand Pond Rd in the Interstate 4 industrial corridor. David Murphy of CB Richard Ellis Inc. represented the seller, Calsters-CBRE of Los Angeles. Calsters is the Sacramento, CA-based California State Teachers Union, one of the largest professional unions in the US.”The deal was done at this time because Strang needed the (storage) space,” Heidrich tells GlobeSt.com. Strang will occupy 19,200 sf. Town N Country Industries, manufacturers and distributors of aluminum gutters, occupies 38,400 sf.

Heidrich has booked $15 million in transactional volume so far this year. He posted $42 million in 2003.