crefeed.com | First Industrial acquires Orlando development site

3/12/2008

First Industrial acquires Orlando development site

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First Industrial Realty Trust, Inc. has acquired First Park Groveland, a 134-acre development site just outside of Orlando, Fla. The site will be developed through the firm's joint venture with the California State Teachers' Retirement System.

The deal was brokered by David Murphy and Kevin Hoover of CB Richard Ellis.

The development site is located along U.S. Highway 27 and O'Brien Road in Orlando. First Industrial plans to construct build-to-suit facilities or to sell select parcels to corporate customers.

Murphy is a senior VP with CBRE and specializes in large tenant representation, building sales and industrial investment sales. He has been a real estate professional since 1990 and is a Florida Certified General Appraiser.

Hoover, a first VP, has been in real estate since 1982 and has been with CBRE since 1984. He is a former employee of Coldwell Banker and has brokered over 20 million square feet of industrial properties in Central Florida.

Address: U.S. Highway 27, Orlando, Fla.

Size: 134 acres

Filed Under: Land

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