The four-building, 300,000-square-foot Shader Industrial Park in northwest Orlando has sold for $10.7 million, one of the biggest deals of its type this year.
The complex was purchased by Hanover Platinum LLC, a group of local investors that includes Stephen, John and William Orosz, real estate developers with Hanover Capital Partners.
The buyers plan to use the property as an income-producing vehicle, according to Wilson McDowell, managing director and principal of Cite Partners, which represented the buyer. The group also owns an industrial building in Kissimmee.
The properties are located at 4206 N. Orange Blossom Trail, 4141 N. John Young Parkway, and 2515 Shader Road.
The sale followed 33 years of ownership by Orlando Shader Realty Associates Ltd., an affiliate of Silverpoint Properties Group out of New York.
The complex is 90 percent occupied, with tenants that include distributors of badminton equipment, shale and granite.
KR Properties represented the seller in the deal.
Have a tip about Central Florida development? Contact me at firstname.lastname@example.org, via Twitter at @karentalley or (407) 420-5176. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.