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Max King Realty Purchases 42,000 sq.ft. Lee Vista Industrial Property

Dépèche transmise le 16 juin 2011 par Business Wire

Max King Realty Purchases 42,000 sq.ft. Lee Vista Industrial Property

ORLANDO, Fla.--(BUSINESS WIRE)--Max King Realty Holdings LLC, through its subsidiary Max King Realty IV LLC, announced today that it purchased a 42,000 square foot industrial property at 6333 McCoy Road for a cash purchase of $1.6 million. The property is located in the Lee Vista Industrial Park just off of Lee Vista Road and Semoran Blvd. near the Orlando International Airport. The facility is comprised of 100% concrete tilt wall construction with steel beams spanning a 28 foot tall insulated roof. Max King Realty is planning to invest another $850,000 in building improvements, including high voltage requirements and air conditioning throughout the entire facility, for the specialized manufacturing requirements of its new tenant that will occupy 100% of the property when completed in August of this year.

“This is just another of several new planned acquisitions we will be undertaking to expand our property holdings in Central Florida. We are proud to be growing and expanding in a down cycle in the economy and we are privileged to serve the growth and expansion needs of our tenants.”

Brett M. Kingstone, President and CEO of Max King Realty stated: "This is just another of several new planned acquisitions we will be undertaking to expand our property holdings in Central Florida. We are proud to be growing and expanding in a down cycle in the economy and we are privileged to serve the growth and expansion needs of our tenants." Vincent Wolle, CCIM, SIOR, President of Results Real Estate Partners LLC and lead broker representing Max King Realty stated: "It has been a pleasure to represent Max King Realty and Kingstone Family Limited Partnership over the past decade. We are currently looking for industrial opportunities in Central Florida and are aggressively looking for off market deals." Lee Morris of Cushman and Wakefield also represented Max King Realty in this transaction. Bret Felberg of Grub & Ellis represented BMO Financial Group (Bank of Montreal) the seller.