ABR Capital Partners and Birtcher Anderson & Davis Associates (BA&D) announced the sale of Aloma Commerce Center I & II, a small-bay, multi-tenant industrial property located in Oviedo, Fla., in February.
Aloma Commerce Center I & II comprises five buildings totaling 74,736 square feet and serves a diverse tenant base in the Northeastern Orlando submarket.
The property was acquired in September 2022 as part of a larger portfolio. At acquisition, the asset was fully leased but featured in-place rental rates below prevailing market levels, presenting an opportunity to execute a value-add business plan through rent growth and targeted capital improvements. During the hold period, ownership successfully increased rents in line with a strengthening market while maintaining high occupancy.
When tenant spaces became available, ABR and BA&D carried out interior renovations to showcase a clean, modern design aimed at attracting and keeping new tenants
