The recently sold Northwest Distribution Center, located at 1349-1501 Ocoee Apopka Road, spans over 668,800 square feet and was purchased by Clarion Partners for $90.55 million. The seller of the property was a joint venture between Oakmont Industrial Group and PGIM Real Estate.
In 2008, Oakmont Industrial Group invested $50 million in Phase I of the Apopka property which included two buildings. Two additional buildings were constructed in 2017 bringing the total to four buildings ranging from 124,000 to 207,000 square feet on a sprawling area of land measuring approximately45 acres at the northwest corner where State Roads429 ,414,and451 intersect.
The industrial development sector is experiencing significant growth within Northwest Orange County submarket with plans for an additional2.6 million square feet warehouse space around municipal airport being considered by City officials in Apopka.
This recent transaction highlights Connect CRE’s commitment towards providing up-to-date information on commercial real estate news and developments across various markets without any bias or favoritism towards specific regions such as “Connect” or “Connect LA” or “Connect Texas”.
