Cushman & Wakefield has arranged the $58.4 million sale of Florida Crossroads Logistics Center, a 617,055-square-foot industrial building located in Ocala, Florida. Mike Davis, Stewart Calhoun, Rick Brugge, Rick Colon and Casey Masters of Cushman & Wakefield represented the seller, a joint venture led by Red Rock Developments and Wharton Industrial, in the transaction. An affiliate of Lexington Realty Trust, an industrial real estate investment trust, acquired the property.
“Located near the northern commencement point of the 309-mile Florida’s Turnpike, Ocala’s strategic location combined with a robust labor force makes the city a rapidly expanding distribution hub for the State of Florida and the Southeastern United States,” Davis said.
The newly built state-of-the-art building sits on 46.08 acres and is fully leased on a long-term triple-net lease. The property is strategically located at 3400 NW 35th Street at the intersection of Interstate 75 and US Highway 27, with 1,500 square feet of linear frontage on Interstate 75. The building features 36’8” min clear height, cross dock configuration, 52’ x 56’ column spacing, 200’ deep truck court, up to 221 trailer parks, 120 dock door positions, full HVAC and ESFR sprinklers.