Dalfen America Corp Acquires Winter Haven Industrial Property For $28.8M

The industrial property located at 750 42nd St NW, Winter Haven, FL, encompasses a total of 426,000 square feet. The asset was sold in a transaction that took place on January 15, 2018, in Winter Haven, Florida. The seller, represented by Ryan Vaught of Colliers International, sold the property to Dalfen America Corp for a total price of $28,800,000.00.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $28,800,000.00
• Market: Winter Haven
• Seller's Rep: Ryan Vaught (Colliers International)
• Buyer: Dalfen America Corp
• Size: 426,000 sqft

The transaction was facilitated by JLL, with the sale consisting of a four-property industrial portfolio in Central Florida. The portfolio included three facilities in Lakeland and the aforementioned building in Winter Haven. Dalfen America Corp acquired the properties from Parkway Partners, represented by JLL, at a 5.6 percent cap rate with a 1.94 weighted average lease term. The industrial buildings, constructed in the last decade, feature tilt-wall construction, ESFR sprinkler systems, rear-load facilities with oversized truck courts, and on-site trailer storage. Notable tenants in the 85 percent leased portfolio include Packaging Corp. of America.