Lee & Associates In the OBJ - 136,665 square feet of space in north Orlando.
ORLANDO BUSINESS JOURNAL (Anjali Fluker):Big deal: Firm inks 136,000 SF warehouse lease in Orlando
A 141-year-old Maryland flooring distributor nearly doubled its size in the region, signing a lease for 136,665 square feet of space in north Orlando.
J.J. Haines & Co. Inc., the nation’s largest floor-covering distributor, renewed an existing lease for 71,009 square feet and added on 65,646 square feet in the Center of Commerce industrial park at 4201 Shader Road. Tom McFadden and Bo Bradford of Lee & Associates-Central Florida represented the landlord, RREEF Property Trust, while Wally Henderson of J. Wallace & Associates represented the tenant.
The deal adds fuel to the region’s growing industrial real estate market, which reported a net 1.7 million square feet of absorption in this year’s first quarter, according to CBRE Inc. The Orlando market had a 9.4 percent industrial vacancy rate in this year’s first quarter, with the warehouse/distribution sector seeing an 8.8 percent vacancy rate.