NAI Realvest Team Brokers $8.4 Million Investment Sale of Poinciana CommerCenter East
Kissimmee, Fla. -- Orlando-based NAI Realvest closed on the $8.4 Million sale of Poinciana CommerCenter East at 1701-1829 Business Center Lane in Kissimmee – the last industrial project completed by the distinguished Maitland-based developer Small Bay Partners.
NAI Realvest Principals Michael Heidrich, Kevin O’Connor and Matt Cichocki brokered the transaction on behalf of the seller Small Bay Partners, LLC and the buyer, Orlando-based Hanover Poinciana Commercial LLC, an investor who also owns the adjacent property.
Phase I of Poinciana CommerCenter East opened in late 2009. Phase 2 was completed in early 2017. The five-building campus with a total of 96,528 square feet of office/industrial/retail/showroom space on 6.42 acres is located on US 17-92/Orange Blossom Trail just east of its intersection with Poinciana Blvd. It was 90 percent occupied at the time of the sale. Tenants include Osceola County, Massey Services and Anytime Fitness.
Since 2001 Small Bay Partners developed, leased, managed, and sold five “CommerCenters” in Winter Garden, Orlando, Sanford and Kissimmee. The principals, including the late NAI Realvest Founder and Chairman George Livingston, real estate veterans Heidrich, Howard Schieferdecker and banker Geof Longstaff, successfully predicted a need to target industrial users of from 2,000 to 25,000 square feet.
The new owner has engaged the services of NAI Realvest to continue property management and leasing services.