Hines Acquires 247069 Square Foot Industrial Facility In Titusville For $42.2M From Reich Brothers

The property asset involved in the transaction is a Class A industrial facility located at 7700 Us Route 1 in Titusville. The sale price was $42,200,000 for a total square footage of 247,069. The property is fully leased and features modern design and dock-high loading doors, making it suitable for current market demands in the industrial sector.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $42,200,000
• Address: 7700 Us Route 1
• Market: Titusville
• Square Footage: 247,069
• Price Per Square Foot: $171
• Buyer: Jeff Hines & Laura Hines-Pierce - Hines
• Seller: Jonathan Reich & Adam Reich - Reich Brothers
• Brokers: Dominic Montazemi, Mike Davis, Rick Brugge & Rick Colon - Cushman & Wakefield

Cushman & Wakefield arranged the transaction on behalf of their U.S. Property Partners fund. The brokerage team included four representatives who facilitated the sale of the Titusville Logistics Center, which caters to the growing warehouse space demand attributed to the expanding aerospace industry in the Space Coast region.