Birtcher Anderson & Davis and Belay Expand in Central Florida
Birtcher Anderson & Davis and Belay Secure Heritage Business Center
Birtcher Anderson & Davis Associates, Inc. (BA&D) and Belay Investment Group have made a strategic acquisition of the Heritage Business Center, a notable multi-tenant industrial business park in the Central Florida region. This acquisition reflects their commitment to expanding their footprint within a rapidly growing market.
Understanding the Heritage Business Center
The Heritage Business Center consists of five significant industrial buildings, encompassing 137,500 square feet. Established through two construction phases in 2005 and 2007, these structures boast concrete masonry walls and steel frame construction topped with a brick façade, showcasing durability and modern design.
Strategic Location and Investment Potential
Located strategically along the I-4 corridor, the Heritage Business Center enhances logistical capabilities for businesses. This location is ideal for both local enterprises and larger companies that distribute to wider markets. The area continues to attract both institutional and private investors, indicating a robust demand for industrial spaces.
Collaborative Efforts Between Partners
The partnership between BA&D and Belay is emphasized by their shared investment philosophy. Bob Thiergartner, Principal of BA&D, expressed enthusiasm for the continued growth in Central Florida’s industrial sector, noting the increasing population and decreasing supply due to rising construction costs. This collaboration aims to capitalize on rental growth in this competitive market.
Future Development Opportunities
The Heritage Business Center includes approximately three acres of undeveloped land, presenting further development possibilities in the future. This element adds to the attractiveness of the investment, providing flexibility for growth and adaptation to market needs.
Tenant Composition and Market Demand
Currently, the property is 77 percent leased, accommodating 15 tenants across various suites. The diverse bay sizes, ranging from 2,500 square feet to 22,000 square feet, allow for a wide range of configurations, catering to different business requirements.
The Team Behind the Acquisition
Representatives from Colliers Investment Advisors played a crucial role in facilitating this transaction. The seller, a private equity firm, was supported by Ryan Vaught, Jimmy Ulrich, and Robyn Hurrell from Colliers, who ensured a smooth negotiation process. Additionally, Nathan Lynch and Michael Sogluizzo provided essential debt advisory services to the buyers.
Significance of the Acquisition
This acquisition is not just about expanding real estate portfolios but also signifies opportunistic investment in a high-demand market. The strategic location positions the Heritage Business Center as a key asset for both partners, paving the way for future successes and investment strategies.
About the Companies
Birtcher Anderson & Davis (“BA&D”) operates out of California, focusing on real estate investments, property management, and development. The firm has established its presence in high-growth U.S. markets, concentrating on acquiring middle-market, multi-tenant warehouse properties.
Belay Investment Group, LLC, specializes in real estate investment management. They strive to provide scalable access to both small and middle-market real estate through programmatic partnerships. Their approach allows for unique investments by leveraging local market expertise.
Frequently Asked Questions
What is the Heritage Business Center?
The Heritage Business Center is a multi-tenant industrial business park featuring five buildings located in Central Florida.
Who are the key players in this acquisition?
The acquisition was made by Birtcher Anderson & Davis and Belay Investment Group, facilitated by Colliers Investment Advisors.
What is the current occupancy rate of the Heritage Business Center?
The property currently has a 77 percent occupancy rate with 15 tenants.
What future plans are there for the property?
There are approximately three acres of vacant land available for future development, allowing for growth possibilities.
Why is this acquisition significant?
This acquisition positions both companies to benefit from the growing demand for industrial space in the Central Florida market.
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