Nov 28, 2017
First Industrial Acquires an 86,240 Square-Foot Distribution Facility in Orlando for $8.2 MillionFirst Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, recently acquired an 86,240 square-foot distribution facility in Orlando for $8.2 million.
Located at 450 Gills Drive in the Regency/Turnpike submarket, Orlando’s premier distribution location, the fully-leased facility features 30-foot clear heights, 200 foot building depth and ESFR sprinklers.
During the past two years, First Industrial has grown its portfolio in Orlando via four acquisitions totaling 513,000 square feet with an investment of $39.5 million. First Industrial now owns a total of 2.1 million square feet in Orlando, Tampa and South Florida.
“As a high quality distribution asset in a customer-preferred submarket, 450 Gills is an excellent addition to our growing Orlando portfolio,” said Chris Willson, senior regional director and market leader for First Industrial in Florida. “We continue to seek additional opportunities for acquisitions and development sites in Orlando given its position in the Southeast’s regional supply chain and its growing population.”
First Industrial’s team for this acquisition was comprised of Richard Prokup, senior vice president, Brad Kluever, senior investment associate, and Mr. Willson.
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 65.5 million square feet of industrial space as of September 30, 2017. For more information, please visit us at www.firstindustrial.com.
For more information contact: Arthur Harmon, Vice President - Investor Relations and Marketing