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| Martin Forster |
ORLANDO, fl --- Hold Thyssen, Inc., a full-service commercial property firm based in Winter Park, recently completed the sale of a rectangular parcel of vacant land located at the southwestern edge of the Pine Hills Opportunity Zone in West Orlando.
Orlando-based investor W-J OZB Operation, LLC paid $450,000 for the 1.33-acres (Lot 2 of the Granikus Subdivision) situated on the highly visible north side of Silver Star Road at its intersection with Lake Stanley Road and immediately east of the Circle K at 8299 Silver Star Rd. in Orlando.
Hold-Thyssen Senior Director Martin Forster CCIM, who negotiated the transaction representing the seller Manor Park, LLC, said the buyer had set up and funded an Opportunity Fund after the federal program to revitalize distressed communities was created. “That made this property an ideal asset to develop and hold in order to benefit from the favorable long term capital gains treatment that Opportunity Fund properties receive,” he said
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| SOLD: Rectangular parcel of vacant land located at the southwestern edge of the Pine Hills Opportunity Zone in West Orlando, FL. |
“While it took a couple of years to get the property sold, it was ideal for a very particular buyer which we were fortunate enough to find,” said Forster, adding “Its access on a main east-west artery with a high traffic count makes an ideal site for development for single or multi-tenant use. I’m excited to see what’s eventually developed there.”
Hold-Thyssen provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide. The 40-year old firm’s current property management portfolio includes more than 100 commercial properties throughout the United States.
Contacts:
Martin Forster, CCIM
Senior Director/Broker Associate,
Hold-Thyssen Real Estate Services
407-691-0505
Beth Payan,
Larry Vershel Communications Inc.
407-461-3781
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