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| Melissa Rose |
MORRISTOWN, NJ – JLL Capital Markets has arranged $24 million in financing to recapitalize Silver Star Commerce Center, an eight-building, shallow-bay industrial park totalling 254,915 square feet in Orlando, Florida.
Silver Star Commerce Center,
an eight-building, shallow-bay industrial park
totalling 254,915 square feet in Orlando, FL
JLL worked on behalf of the borrower, a joint venture between Denholtz Properties and Long Wharf Capital, and secured the loan from Webster Bank.
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| Jon Mikula |
Silver Star Commerce Center is currently 95 percent occupied by 29 tenants spanning various industries, including construction, manufacturing, transportation and warehousing and utilities.
The portfolio features ceiling heights between 18 and 20
feet along with 69 loading docks, 20 drive-in doors and a total of 508 parking
spaces.
The portfolio is
located at 3600-3802 Silver Star Rd. and 3717-3763 Mercy Star Ct. Silver Star
Commerce Center is in Northwest Orange County, one of the fastest growing
submarkets in Central Florida within the Orlando Market, which currently exhibits
an overall vacancy of 6.1%.
The JLL Capital
Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula,
Michael Klein and Melissa Rose, Associate Salvatore Buzzerio, and
Analyst Jovanni Rodriguez.
Michael Klein
“Shallow-bay
industrial continues to perform well with consistent rent growth and demand,”
said Mikula.
For more news, videos and research resources, please
visit JLL’s newsroom.
CONTACTS:
Kristen Murphy,
JLL Director, PR
Phone: +1 617 543 4873
Email: Kristen.Murphy@jll.com
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