Delray Beach-based Redfearn Capital, a private equity commercial real estate company that targets value add, distressed and opportunistic investment opportunities, acquired 193,000 square feet of industrial facilities for a total purchase price of $15,250,000.
The assets include:
5340 Young Pine Rd, located in Orlando, Florida. The single story, 50,000-square-foot industrial warehouse is located in eastern Orlando just minutes from Orlando International Airport. The front load building has 24’ clear heights and a combination of grade level and dock doors. The property was built in 2018 and has approximately 1 acre of gated outdoor storage.
2611 Lavista Drive, located in Burlington, NC. The singe story, 143,000-square-foot industrial building is fully leased to Brothers Freight Management. The rear load building, which is conveniently located on I-40, contains clear heights spanning from 22-25’ and eleven (11) dock doors and two (2) grade level doors. The property was built in 1985 and was expanded in 1992.
“These two industrial assets offer an exceptional value-add opportunity in both of these booming industrial markets,” commented Alex Redfearn, Principal and Founder of Redfearn Capital. “Our team was able to secure both properties off market and execute in a challenging economic environment. We’re also excited to break into the North Carolina market as we continue to expand our footprint throughout the Southeast.”
The acquisition legal work was led by Kapp Morrison LLP.