The Osceola Logistics Center in Kissimmee has been sold by InLight Real Estate Partners and Black Salmon Capital for $54.6 million to Principal Asset Management. The business park, spanning 280,000 square feet, was originally purchased by the investor duo in 2022 for $6.4 million.
Located at 5010 and 5030 Industrial Lane, the OLC is primarily a cold storage facility with state-of-the-art equipment funded by McClane Company – a grocery and food service supplier owned by Berkshire Hathaway. With a long-term lease agreement that includes an annual rent increase of 3.5%, McLane is responsible for over $16 million worth of freezer and cooling equipment across both recently completed buildings.
McLane serves as one of America’s leading distributors with over 80 distribution centers nationwide, more than 25,000 employees on staff,and delivering over10 billion pounds of merchandise annually to various brands throughout the country.
Cushman & Wakefield acted as the representative for InLight Real Estate Partners and Black Salmon Capital during this transaction.
