An industrial property in the Southeast Orlando submarket just traded hands for $3.2 million — a nearly 40 percent gain in less than four months from its previous selling price.
According to a deed filed in Orange County, private investor Don Wordell is the seller. Through the entity Narcoossee Wilson LLC, Wordell paid $2.3 million for the seven-acre site at 7616 Narcoossee Rd. in late December.
The buyer, TransPremier, is a family-owned road construction subcontractor in Florida whose services include material hauling, asphalt milling, full road clean-up, and equipment mobilizations.
A representative at the company said the acquisition was part of a relocation plan that included expanding its presence in the Orlando market.
The company, founded by Sergio Guarnizo and his wife, Diana Bernate, in 2000 will be uprooting from its smaller two-acre location at 9388 Sidney Hayes Road. Records show it sold the site earlier this month for $1.7 million.
In 2017, TransPremier opened its first satellite branch in Jacksonville.
The gated property along Narcoossee Road features 9,090 square feet of commercial space, with about 1,600 square feet dedicated for office use. The three warehouses on the site were built in 1966, 1987 and 1995.
TransPremier financed the deal with a $2.4 million loan from Tampa-based GTE Financial.
The industrial property sits north of the Martin Andersen Beachline Expressway and Orlando International Airport. Across from the site is where Publix Super Markets built its $188.5 million distribution center for frozen food and produce in 2014.
The deal, which traded hands at a near 40 percent gain in just a couple of months, comes at a time with Southeast Orlando’s industrial submarket is heating up with activity.
Last month, GrowthSpotter reported plans filed by Liberty Property Trust and development partner Airport International Park of Orlando (AIPO) to construct a 266,055-square-foot distribution center along Florida Crown Drive.
The initiative comes off the heels of the joint venture completing its roughly 130,000-square-foot warehouse at 3057 Tradeport Dr., which recently inked a lease deal with the Follett Corporation.
Local flex-industrial developer Ana Maria Morgado is also planning an 82,000-square-foot industrial park consisting of eight warehouse buildings on roughly 18 acres of land at 9197 Boggy Creek Road.
Other companies with a presence in the submarket include the Siemens Corporation, Chrysler, Goya, Caterpillar, Lockheed Martin and Staples.