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Dual Lease Transaction Shows Market Creativity

ORLANDO—Demand is clearly rising for industrial space across Central Florida. Beyond McCraney Company's spec industrial developments and the many…

By Jennifer LeClaire | Updated on February 24, 2016
Joe Hills Joe Hills

ORLANDO—Demand is clearly rising for industrial space across Central Florida. Beyond McCraney Company’s spec industrial developments and the many acquisitions, JLL just inked two new lease transactions totaling 309,400 square feet of warehouse distribution space.

JLL vice presidents Joe Hills and Josh Lipoff, partnered with Damian Rivera, president of national account services of E. Smith Realty Partners, to represent Mattress Firm and Sherwood Bedding in the leases. Retail chain Mattress Firm and mattress manufacturer Sherwood Bedding are the tenants.  The companies will occupy side-by-side 154,700-square-foot spaces in a brand new 478,400-square-foot cross dock facility in the Air Commerce Park.

“Both Mattress Firm and Sherwood Bedding aligned their business interests to secure a regional distribution center together that will provide a central access point to best serve their Central Florida customers,” says Hills. “Sherwood Bedding is a manufacturing partner for Mattress Firm, making perfect sense from an efficiency and cost standpoint for the two companies to occupy contiguously within the same building. As Mattress Firm continues its state-wide expansion, the retailer plans to roll out many stores throughout Florida and to strategically position their distribution model in close proximity to the population centers they serve.”

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