Avistone, LLC, announced today the sale of Presidents Plaza Business Center located in Orlando, Florida. The property was purchased by Avistone in 2016. Presidents Plaza is a 108,432 square-foot multi-tenant flex industrial park located in Orlando’s Central Park industrial market, at the crossroads of Interstate 4, the Florida Turnpike, the Beachline Expressway, State Road 482 and State Road 441.
“We’re pleased with the successful execution of our investment plan for this quality asset, and the returns we were able to generate for our investors,” said Richard Kent, President of Avistone.
“Avistone invests in flex properties in dynamic major metropolitan markets nationwide at prices below replacement cost, and Orlando certainly proven to be such a market. We made numerous upgrades and improvements to the property, which played a direct role in its stabilization.”
“This is a unique property that is particularly well-situated in Orlando,” added Dan Culler, CEO of Avistone. “We are pleased to announce this sale and hope the new owners continue to enjoy the strength of the Orlando market in the future.”
The Cushman & Wakefield team of Rick Brugge, Michael Davis and Rick Colon represented Avistone in the sale.
Avistone is a real estate private equity and investment management firm involved in the acquisition and operation of industrial and business park properties nationwide. Since its founding in 2013, Avistone has acquired 20 industrial business parks totaling approximately 3 million square feet of space located in California, Georgia, Texas, Florida and Ohio.