Clarion Partners Acquires Northwest Distribution Center In Apopka For $90.55M

The Northwest Distribution Center in Apopka, Florida, was sold for $90.55 million to Clarion Partners in a recent transaction. The industrial property spans across 45 acres and is located at 1349-1501 Ocoee Apopka Road. This acquisition highlights the strong demand in Apopka's industrial market, which boasts a submarket of 44 million square feet of space, significant development, and low vacancy rates.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $90,550,000
• Square Footage: 668,800 sqft
• Price per Square Foot: $135
• Date: 09/28/2023
• Address: 1349-1501 Ocoee Apopka Road
• Market: Apopka

Clarion Partners, represented by David Gilbert, emerged as the buyer in this transaction. The seller of the Northwest Distribution Center was Oakmont Industrial Group, with Richard Rider as their representative. The deal was facilitated by PGIM Real Estate, acting as the broker in this transaction.

It is worth noting that the sale price of $90.55 million showcases the robust demand for industrial properties in Apopka. With 44 million square feet of space, significant development, and low vacancy rates, Apopka's industrial market continues to attract investors seeking opportunities in this thriving submarket.