Semoran Business Center
Damien Madsen and Tommy Pinel Represented Quest, Inc. in the $1.9 Million Sale of Semoran Business Center to Orlando Investor RAM SBC, LLC
Cushman & Wakefield announced today that is has negotiated the sale of Semoran Business Center, a 39,742-square-foot mixed-use development in suburban Orlando.
The team of Managing Director Damien Madsen and Senior Associate Tommy Pinel represented Orlando-based Quest, Inc. in the disposition. Winter Park, FL-based investor RAM SBC, LLC acquired the asset for $1.9 million ($47.81 per square foot).
Semoran Business Center comprises 17,866 square feet of retail space, 11,856 square feet of office space and 10,000 square feet of warehouse space. The property’s warehouse space was fully leased while the retail component was 77 percent occupied and the office space was 60 percent leased. Notable tenants include Our Pet World, Healthcare Billing Solutions and Irish Hospitality Associates, Inc. An on-site cellular tower and billboard provide additional income for the property.
Semoran Business Center is located on a 4.1-acre site at 380 Semoran Commerce Place in Apopka. This location offers extensive frontage along Semoran Boulevard (State Road 436), with a daily traffic count of 31,000 vehicles per day.
“The challenge of this deal was finding the right buyer for this unique mixed-use property,” said Pinel. “RAM SBC will benefit from positive market trends, an aggressive leasing campaign and new developments emerging in this area of Apopka.”
“Quest, Inc., was happy to work with Damien and Tommy,” said John R. Gill. President and CEO, Quest, Inc. “They helped us maximize the exposure of Semoran Commerce Center through their marketing efforts and contacts so that we could connect with the right buyer.”
“Closing this sale helps strengthen our financial position, which is important to Quest’s mission of serving individuals with developmental disabilities,” added Gill.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com
