U.S. IP Capital, Torchlight Investors nab $126 mln warehouse in Fla

U.S. IP Capital Partners, a real estate investment and asset management firm, and peer Torchlight Investors have acquired Florida Keystone Distribution Center, a warehouse in Ocala, Florida (Fla).

Constructed in 1990, the Florida Keystone Distribution Center, located at 655 S.W. 52nd Ave., near the I-75/Highway 40 interchange and Ocala International Airport, is fully leased to Costco-Innovel and Transformco.

IP Capital Partners and Torchlight Investors acquired the 1.9 million-square-foot industrial warehouse from U.S. industrial real estate firm Reich Brothers for $126.5 million.

The property, which sits on a 169-acre site, features 36-foot clear ceilings, 150 dock-high and seven drive-in loading doors, 2,402 trailer parking spaces, an early suppression fast response fire sprinkler system and a full air-conditioning.