ORLANDO—An eight building industrial portfolio in Orlando just traded hands. Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial properties, snapped up the 254,915-square-foot portfolio.
This portfolio consists of light-industrial buildings located in Orlando's Northwest Orange County submarket. Northwest Orlando is one of the largest industrial submarkets in the city with over 21 million square feet
"The Orlando market has demonstrated strong fundamentals, evidenced by 2.5 million square feet of positive net absorption year-to-date, and a vacancy rate of 9.2%, down 60 basis points from this time last year," says Scott McKibben, Chief Investment Officer at Brennan. The buy increases Brennan's Florida and Southeast portfolio to 35 buildings.
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