Sep 06, 2017
First Industrial Realty Trust Acquires a 102,568 Square Foot Warehouse/Distribution Facility in the Orlando MarketFirst Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that it has recently acquired a 102,568 square-foot front-load warehouse/distribution facility in the City of Orlando, Orange County, Florida for $8.0 million. The building sits on a 5.4-acre site approximately 1.5 miles from Highway 528 and the Florida Turnpike, offering tenants excellent highway access and close proximity to Orlando International Airport.
Located in an established business park setting at 550 Gills Drive, the building is 100% occupied and features 30’ clear heights, 22 dock-high doors, 2 drive-in doors, 128 auto spaces and ESFR sprinklers. The building is fully leased to two tenants.
“550 Gills Drive is another well-located, quality addition to our Florida portfolio,” said Richard Prokup, senior vice president of operations for First Industrial. “The Regency submarket of Orlando is a top performer due to its position as a critical distribution location for customers serving the Orlando market and greater Central Florida.”
Mr. Prokup and Brad Kluever, senior investment associate, led First Industrial’s efforts to acquire this building.
First Industrial would like to thank Rich Cavano of Cavano Realty, LLC for his role in this transaction.
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 64.3 million square feet of industrial space as of June 30, 2017, including 1.9 million square feet in Florida. For more information, please visit us at www.firstindustrial.com.
For more information contact: Arthur Harmon, Vice President - Investor Relations and Marketing