Suburban Orlando Business Park, SunTech, Commands $20M
ORLANDO, FLORIDA – October 9, 2017 – CBRE brokered the sale of SunTech Commerce Park I and II, a master-planned business park totaling 224,409 square feet of office and flex space in Lake Mary, Fla. According to public records, DOF II SunTech LLC, an entity affiliated with New York-based Torchlight Investors, sold the asset in a $19.7 million deal. Arsenault Holdings LLC, an entity connected to Real Capital Solutions, a real estate investment manager based in Louisville, Colo., acquired the complex.
Located at 39-59 Skyline Drive, on approximately 19.5 acres, SunTech Commerce Park features six buildings and offers 24-hour access, grade-level and dock-high spaces, as well as monument and building signage. Additionally, all buildings are 100 percent sprinklered. The business park is leased to a diverse mix of tenants, including Applied Concepts, Vitil Solutions, EDCO Group, Massey Services, Car Financial Services and Advanced Pharmacy Florida.
Executive Vice President Ronald Rogg and Associate Chip Wooten of CBRE’s Capital Markets group represented the seller in the transaction. This isn’t the buyer’s first foray into the Orlando real estate market. Real Capital Solutions acquired a five-building office, flex and warehouse/distribution portfolio in Lake Mary, Fla., in June 2016.
“The property’s combination of upside potential, loyal tenancy and predictable cash flow, while unencumbered with debt, provides an exceptional opportunity in today’s low-interest rate environment,” said Rogg, in prepared remarks. “Lake Mary offers superior executive housing and strong demographics and has experienced four consecutive years of positive absorption, a great submarket to invest in.”
SunTech Commerce Park provides access to major Central Florida roadways, including Interstate 4, routes 17 and 92, Central Florida GreeneWay and Florida State Road 434. The complex is close to several residential communities, restaurants, hotels, services and shopping venues.
About Real Capital Solutions
Real Capital Solutions is an active investment manager that provides smart capital and practical solutions for real estate opportunities. For over 30 years, RCS has achieved great success investing in entrepreneurial real estate ventures. During that time, the company has purchased and managed more than 365 real estate investments totaling approximately $3.5 billion. Real Capital Solutions’ investment performance is a result of a solutions-oriented approach to property acquisition, development, management and divestiture. RCS will continue to produce exceptional returns for its investors by working with operating partners that share the same entrepreneurial drive and operational precision in order to achieve extraordinary performance.
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