{"id":1004215131,"date":"2018-03-29T22:28:36","date_gmt":"2018-03-30T06:28:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004215131"},"modified":"2022-12-08T18:32:39","modified_gmt":"2022-12-09T02:32:39","slug":"city-furniture-signs-246-ksf-industrial-lease-in-florida","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/city-furniture-signs-246-ksf-industrial-lease-in-florida\/","title":{"rendered":"City Furniture Signs 246 KSF Industrial Lease in Florida"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<p><iframe loading=\"lazy\" title=\"The Park @ 429\" src=\"https:\/\/player.vimeo.com\/video\/232479006?dnt=1&amp;app_id=122963\" width=\"500\" height=\"281\" frameborder=\"0\" allow=\"autoplay; fullscreen; picture-in-picture; clipboard-write\"><\/iframe><\/p>\n<p>City Furniture signed a 10-year, 246,031-square-foot lease at The Park @ 429, a 613,400-square-foot Class A industrial park in Ocoee, Fla., with owner\/developer BlueScope Property Group.\u00a0The new lease brings the overall occupancy rate of\u00a0the five-building complex to 76 percent occupied. The facility is expected to be delivered this April.<\/p>\n<p>Located at 300 E. Crown Point Road, the property will serve as the home retailer\u2019s distribution center for its Central Florida stores. City Furniture is scheduled to build out the interior, with plans to open in October.\u00a0The industrial building boasts some of the best specs in the market, with 32-foot clear heights, tilt wall construction, 185-foot truck court, 85 trailer parking spaces and frontage on Florida State Road 429.<\/p>\n<p>Cite Partners, which leases and manages the building, arranged the deal. The Orlando-based firm\u2019s industrial team of Wilson McDowell, Matt Sullivan and Bobby Isola represented BlueScope Property Group in the lease negotiation. David Hale of Julius M. Feinblum Real Estate represented City Furniture.<\/p>\n<p><em>\u201cThis is a significant deal for the Central Florida industrial market,\u201d <\/em>Matt Sullivan, Cite Partners\u2019 managing director &amp; principal, said in a prepared statement.<em> \u201cThe Park @ 429 is the first institutional quality facility in the Ocoee\/Winter Garden submarket. It\u2019s a long-term deal with a new tenant in the market rather than a tenant relocating, so it\u2019s pure net absorption in a location that is establishing a new submarket.\u201d<\/em><\/p>\n<h2>Strategic location<\/h2>\n<p>The property offers access to the largest expressway intersection in Central Florida, between the Western Beltway, Florida\u2019s Turnpike and the East-West Expressway, allowing strong access to Orlando and other popular cities in the state.\u00a0The Park @ 429 is also within minutes of downtown Winter Garden, a vibrant commercial district with many food and entertainment options, as well as State Road 50 and Winter Garden Fowler Groves, a massive outdoor power center.<\/p>\n<p><em>\u201cAs we prepare to open retail stores in Millenia and Altamonte Springs, we needed a distribution hub that could easily serve those stores, along with our stores in The Villages,\u201d<\/em> said\u00a0Ryan Cronin, City Furniture\u2019s vice president of real estate<em>. \u201cThe Park @ 429 provides us with an ideal location near three major easy-to-access highways.\u201d<\/em><\/p>\n<p>Last year around this time, Cite Partners announced three deals with New Jersey-based Denholtz Associates, including the acquisition of a 256,838-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/cite-partners-assists-denholtz-associates-in-three-orlando-deals\/\">Central Florida industrial flex portfolio<\/a>.<\/p>\n<p><em>Video courtesy of\u00a0Cite Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Park @ 429 in the Orlando MSA is scheduled for completion next month. The Fort Lauderdale-based home retailer is expected to open its new location this October. <\/p>\n","protected":false},"author":451,"featured_media":1004215146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21808,21748,21742,1493],"tags":[39585],"class_list":["post-1004215131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-featured","category-industrial","category-latest","category-orlando","tag-cite-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>City Furniture Signs 246 KSF Industrial Lease in Florida - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/city-furniture-signs-246-ksf-industrial-lease-in-florida\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"City Furniture Signs 246 KSF Industrial Lease in Florida\" \/>\n<meta property=\"og:description\" content=\"The Park @ 429 in the Orlando MSA is scheduled for completion next month. 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