Scannell unloaded a 990,670-square-foot warehouse in Groveland, a town outside Orlando. An entity traced to Goldman Sachs paid $97.5 million for the property at 19800 S. Obrien Road. The industrial building, on an 89-acre site, was built in 2023. It’s currently a Wesco shipping and receiving facility.
The Orlando Business Journal reports that the industrial property is adjacent to Groveland’s Ford Commerce Park, home to Kroger’s regional distribution center. It is also next to the planned $250 million Groveland Square mixed-use project.
Industrial construction in the region has seen an uptick. A Colliers International report stated that the total industrial inventory stretching from Tampa to Daytona Beach is up by more than 14 million square feet over the past year, with an additional 9.3 million square feet under construction.
That’s despite an overall vacancy rate of 7.5%, up from 6% in the first quarter of 2024.
The post Goldman Sachs Affiliate Pays $97.5M for Immense Lake County Warehouse appeared first on Connect CRE.
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