562,817 SF Manufacturing/Distribution Facility in Lake Mary, FL
Aerial
• 480 Offices
• 61 Countries
• 15,000 Professionals
• $52 Billion in Transactions
• 1+ Billion SF Managed
• $2 Billion in Revenue
About ColliersColliers International is a leader in global real estate services, defined by our spirit of enterprise. Through a culture of service excellence, and a shared sense of initiative, we have integrated the resources of real estate specialists worldwide to accelerate the success of our clients.
Property Profile Competitive Offerings
The Colliers Team
Building Type: Manufacturing / Distribution
Size: 562,817± SF
Location: Lake Mary, FL
Land Size: 32.58± acres
Year Built: 1995, 1998
Dock High Doors: 48
Power: Progress Energy
Drive Ins: 2
Zoning: M-2A, City of Lake Mary
Parking: 300+
Trevor Hall, Jr.DirectorLand Services
Direct +1 407 362 6173Mobile +1 407 758 [email protected]
Comparable Sales
Property Summary Sale Price
Property: 1010 W Weir RoadAddress:1010 W Weir RoadSize: 314,467Year Built: 1991Price PSF: $10.33
$3,250,000
Property: Madison Technology ParkAddress:2500 Dr F E Wright DriveSize: 568,606Year Built: 1991Price PSF: $12.31
$7,000,000
Property: 2905 Old Oakwood RoadAddress:2905 Old Oakwood RoadSize: 309,000Year Built: 1998Price PSF: $14.56
$4,500,000
Property: Former Reebok BuildingAddress:3965 Pilot DriveSize: 336,080Year Built: 1987Price PSF: $15.18
$5,100,000
Property: 1 Mutec DriveAddress:1 Mutec DriveSize: 340,170Year Built: 1989Price PSF: $15.29
$5,200,000
Property: Braselton 85Address:900 Hwy 124Size: 422,920Year Built: 1989Price PSF: $19.39
$8,200,000
Property: MikasaAddress:1980 Clements Ferry RoadSize: 849,850Year Built: 1998Price PSF: $23.53
$20,000,000
Property: Region CourtAddress:5200 Region CourtSize: 407,000Year Built: 1988Price PSF: $32.92
$13,400,000
Marketing Strategy
Dolores S. Seymour, MCR, CCIM, SIORManaging DirectorIndustrial Services
Direct +1 813 871 8506Mobile +1 813 495 [email protected]
Marketing Objective
• Maximize Sales Price
• Minimize Time to Closing
Property
• Understanding the propertyBuilt as Manufacturing/Distribution Facility
• 8th largest industrial building in Orlando Market
• Not economically feasible to reconfigure to alternate useEstablish approximate market value
• Comparable Sales
• Competitive Offerings on Market
Identify BuyersLocal, Regional, National, and InternationalMarketing must reach out to all prospective buyers regardless of
location
MarketingCreate / Install / Insert High Quality Marketing Materials
• Two or Four page flyer, marketing brochure is appropriate
• Create / Host a dedicated secure website for the property
• Install signs on the property
• Broker / User email blasts
• Create a list of user / investors for a mass mailing via USPS
Rose ShortenRegional DirectorProperty Management
Direct +1 407 362 6169Mobile +1 407 468 [email protected]
William E. Parke, SIORDirectorIndustrial Services
Direct +1 407 362 6149Mobile +1 407 252 [email protected]
Edward L. Miller, CCIM, SIORPrincipal, Managing DirectorIndustrial Services
Direct +1 813 871 8507Mobile +1 813 508 [email protected]
Danny RiceGIS & Market Analytics
Direct +1 407 362 6153Fax +1 407 843 [email protected]
Property Summary Asking Price
Property: 88 Armory RoadAddress:88 Armory RoadSize: 301,550 SFYear Built: 1998Price PSF: $15.92
$4,800,000
Property: Mohawk Distribution CenterAddress:212 Burlington DriveSize: 565,793 SFYear Built: 1996Price PSF: $17.32
$9,800,000
Property: Elkin Industrial ParkAddress:1000 Candle Wycke LandSize: 416,000 SFYear Built: 1997Price PSF: $20.43
$8,500,000
Property: Florence Industrial CenterAddress:1500 Range WaySize: 423,581 SFYear Built: 1989Price PSF: $23.61
$10,000,000
Property: Santens of AmericaAddress:5121 Old Pearman Dairy RoadSize: 427,377 SFYear Built: 1989Price PSF: $24.57
$10,500,000
Property: 9105 Hacks Cross RoadAddress:9105 Hacks Cross RoadSize: 605,427 SFYear Built: 1995Price PSF: $28.08
$17,000,000
Property: NACOMAddress:375 Airport RoadSize: 509,000 SFYear Built: 1997Price PSF: $29.47
$15,000,000
Property: Kelly Road WarehouseAddress:2973 Kelly BoulevardSize: 411,706 SFYear Built: 1999Price PSF: $40.08
$16,500,000Acquisitions
Tenant Representation
Landlord Representation
Real Estate Management
Construction Management
Appraisal & Valuation
Core ServicesInvestment Sales
Office Sales & Leasing
Industrial Sales & Leasing
Retail Sales & Leasing
Land Sales
Multi-Family
Negotiate terms for the Purchase and SaleConsiderations
• Timing
• Price
• Contingencies
• Financial capability of buyer
• Buyer’s proposed use of property
Closing on Sale
Estimated Time from Listing to Contract at Asking Price/SF
Price Paid
3
Months6
Months9
Months12
Months15
Months18
Months21
Months24
Months27
Months
$24.00 13,507,608$ Average of Competitive Offerings less highest and lowest
$23.00 12,944,791$
$22.00 12,381,974$
$21.00 11,819,157$
$20.00 11,256,340$
$19.00 10,693,523$
$18.00 10,130,706$
$17.00 9,567,889$
$16.00 9,005,072$ Average of comparable sales less highest and lowestof Comparable Sales less highest and lowest
$15.00 8,442,255$
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