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Summit Announces the Disposition of Crossroads 429 in Orlando, FL

Summit Real Estate Group is pleased to announce the disposition of Crossroads 429 Industrial Park in Apopka, FL, just north of Orlando. The speculative, ground-up industrial development project is a Class A, multi-tenant warehouse portfolio comprised of two front-park, rear-load buildings totaling 280,437 square feet. Located in Orlando’s Northwest Orange County industrial submarket, the buildings are ideally situated beside SR 429 which connects Apopka and other western Orlando communities to the region’s major transportation network. Summit’s Arrowrock Income & Growth Fund III acquired the 19.7 acre assemblage Q4 2021, began construction Q2 2022, and delivered the buildings Q1 2023.

The Northwest Orange County submarket has grown substantially over the past five years due largely to the northward expansion of the local highway system, specifically SR 429, linking Apopka to far north communities. Summit’s Arrowrock US Industrial Fund IV has acquired a 22.2 acre assemblage less than three miles to the east of Crossroads 429 where it will develop a similar industrial park. Known as 451 Commerce Park, the ground-up industrial development project will be comprised of two multi-tenant warehouse buildings representing ±260,000 square feet in total. The 32’ clear Class A, rear-load warehouse buildings will have depths of 225’ and 170’ truck courts that include trailer spaces. Summit anticipates starting construction Q2 2023 and delivering the buildings Q4 2023.