Torchlight Investors Acquires Office In Ocala From Reich Brothers For $126.5M

The Florida Keystone Distribution Center, an office asset located at 655 SW 52nd Ave in Ocala, FL, 34474, was sold for $126,500,000.00. This 1.9 million-square-foot warehouse, situated on a 169-acre site, boasts impressive features including 36-foot clear ceilings, 150 dock-high and seven drive-in loading doors, an ESFR fire sprinkler system, and full air-conditioning. The property is fully leased to Costco-Innovel and Transformco, making it Florida's largest industrial warehouse.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $126,500,000.00
• Market: Ocala
• Seller's Rep: Zach Eichholtz(Cushman & Wakefield)
• Brokers: Mike Davis(Cushman & Wakefield)
• Buyer: Torchlight Investors
• Seller: Reich Brothers
• SF: 1

The acquisition financing of $102 million for the deal was secured through PIMCO by IP Capital Partners and Torchlight Investors. Reich Brothers, the seller specializing in repurposing industrial assets, was represented by Cushman & Wakefield's team led by Mike Davis, Adam Spies, Rick Brugge, Rick Colon, Kevin Donner, and Dominic Montazemi. The buyer was represented by Jason Hochman, Brian Linnihan, Michael Ryan, and Ron Granite of Cushman & Wakefield's Equity, Debt, and Structured Finance team.