CBRE Capital Markets team has arranged the sale of a 192,654-square-foot office and industrial complex in Orlando.
Boca Raton-based Basis Industrial purchased the property from Miami-based B Group Capital Management for $25 million.
Ronald J. Rogg, Executive Vice President with CBRE in Orlando, represented the seller in the transaction.
Lakefront I & II features four single-story, free-standing buildings located at 6101-6251 Chancellor Drive in Orlando Central Park. The property includes a mix of light industrial, warehouse, flex, showroom, and office spaces. At the time of sale, the property was approximately 83.5% occupied by numerous high credit quality government and publicly traded companies.
“The sale of Lakefront I & II are a result of the timely execution of the investment parameters we set out to accomplish when we purchased the property. This sale emphasizes the strategic disposition program that was set in motion post-pandemic to strengthen our growing portfolio,” said B Group Capital Management Chief Executive Officer Sebastian Barbagallo, who along with Franco Barbagallo, Chief Operating Officer, represented the ownership entity’s investors in the transaction.
B Group Capital Management specializes in strategic asset management through investor relations, deal and lender structuring, along with property acquisition and repositioning as a subsidiary of B Group Holding Company, a family-owned real estate conglomerate that has acquired, improved and managed Class A and Class B office buildings and warehouse buildings across 16 properties in five different cities across Florida, Georgia, and North Carolina. B Group, through its parent company B Developments, also develops, acquires, and repositions multifamily assets throughout the Southeastern United States.
Basis Industrial was represented by Anthony Scavo, Ahmad Elayyan, and Jay Massirman.
Basis Industrial has combined over 100 years of real estate experience with over $5 billion in invested capital spread among 15 million square feet of industrial real estate.
