{"id":1004369753,"date":"2019-11-20T06:19:33","date_gmt":"2019-11-20T14:19:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004369753"},"modified":"2019-11-20T06:19:33","modified_gmt":"2019-11-20T14:19:33","slug":"first-industrial-grows-portfolio-with-orlando-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/first-industrial-grows-portfolio-with-orlando-buy\/","title":{"rendered":"First Industrial Grows Portfolio With Orlando Buy"},"content":{"rendered":"
\"770<\/a>

770 Gills Drive. Image via Google Street View<\/em><\/p><\/div>\n

First Industrial Realty Trust has acquired 770 Gills Drive, a 54,000-square-foot industrial building in Orlando, Fla. Whitely Capital sold the Class A property for $6.3 million. <\/p>\n

Located in the Southeast Orange submarket at 770 Gills Drive, the warehouse was completed in 2018 by Kelsey Construction. The facility is 10 miles west of Orlando International Airport and approximately 7 miles east of the Orange County Convention Center. Situated on 3.7 acres, the building is between Florida\u2019s Turnpike and the Beachline Expressway.<\/p>\n

JLL negotiated the deal on behalf of the buyer. Executive Vice President Josh Lipoff and Senior Vice President Mike Borling worked with First Industrial\u2019s Senior Regional Director Chris Willson and Investment Officer Brad Kluever.<\/p>\n

Speaking at the recent Avison Young U.S. Industrial Summit<\/a>, First Industrial CIO & Co-Founder Jojo Yap shared how the company\u2019s investments have shifted toward port cities due to the potential for higher rental rates. About 20 percent of the firm\u2019s portfolio is now in Southern California. In line with this strategy, First Industrial paid $7.3 million<\/a> for a 40,831-square-foot facility in Carlsbad, Calif., in August.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company paid more than $6 million for a Class A warehouse in the Southeast Orange submarket.<\/p>\n","protected":false},"author":870,"featured_media":1004369759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1493],"tags":[35830,32796],"class_list":["post-1004369753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-orlando","tag-first-industrial-realty-trust","tag-jll"],"acf":[],"yoast_head":"\nFirst Industrial Grows Portfolio With Orlando Buy - 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\/first-industrial-grows-portfolio-with-orlando-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Industrial Grows Portfolio With Orlando Buy\" \/>\n<meta property=\"og:description\" content=\"The company paid more than $6 million for a Class A warehouse in the Southeast Orange submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/first-industrial-grows-portfolio-with-orlando-buy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-20T14:19:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/770-Gills-Drive-e1574254705102.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1102\" \/>\n\t<meta property=\"og:image:height\" content=\"826\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-industrial-grows-portfolio-with-orlando-buy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/first-industrial-grows-portfolio-with-orlando-buy\/\",\"name\":\"First Industrial Grows Portfolio With Orlando Buy - 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