Orlando, Florida–February 26, 2020, PBV Logistics Center, LLC, an affiliate of Tratt Properties, LLC has completed the purchase of a multi-building distribution center in Orlando, Florida. Located in the heart of the metro Orlando market, the asset is fully occupied under a long-term lease to CVS Health Corporation and serves as a key distribution point for the retail and pharmacy leader’s Florida supply chain.
Totaling 713,585 square feet on 42.96 acres, the Orlando CVS distribution center is comprised of a main building with 685,007 square feet of warehouse space and 16,650 square feet of office space, as well as 11,928 square feet of auxiliary buildings. Amenities include up to 35′ clear height, 97 loading doors with dock levelers and state-of-the-art infrastructure to manage high-volume inventory and fulfillment operations. The secured site has up to 350′ truck courts, the ability to park 505 cars and 429 trailers, and the potential for future rail service. The CVS distribution center is located at 8201 Chancellor Drive and is minutes from the Florida Turnpike, Beach Line Expressway and Interstate 4.
Cushman and Wakefield Vice Chairman Mike Davis represented both PBV and the CVS building seller.
PBV purchased the CVS asset in a 1031 exchange following its disposition last month of a 526,320 square foot industrial property in Winston-Salem, North Carolina. The North Carolina building is fully occupied by Pepsi Bottling Ventures.