The 78,449-SF office building is located in a premier office/industrial submarket
Mohr Capital, a Dallas-based privately held real estate investment firm, has acquired a two-story, 78,449-square-foot office building in Lee Vista Business Park, a master-planned business park in Orlando, Florida.
Located a mile north of Florida's 528 Expressway at 6272 Lee Vista Blvd., the building is fully leased to Accredo Health Group Inc., an Express Scripts company and subsidiary of the global health service company Cigna Corporation. The facility houses a distribution operation, office space for executives, a specialty pharmacy with clean rooms and a team of specialty-trained pharmacists and nurses who work directly with patients to manage their complex medical conditions.
"Orlando is an attractive market for investors, and we're pleased to close on this mission-critical facility for Cigna. This is our first transaction in the state of Florida and it adds to our continued focus on acquiring best-in-class, single-tenant credit facilities nationwide," said Rodrigo Godoi, managing director of investments for Mohr Capital.
The facility was first developed in 2006 for CuraScript Inc., which merged with Accredo in 2012. Godoi represented Mohr Capital throughout the transaction. Ron Rogg at CBRE handled the sale on behalf of the seller.
"As a privately held investment firm that can move quickly, we worked closely with Cigna and CBRE to facilitate Accredo's long-term occupancy requirements and close the deal fast," said Bob Mohr, chairman of Mohr Capital.
The transaction marks Mohr Capital's second acquisition in less than 30 days following its successful investment in a single-tenant industrial facility in California's Silicon Valley. In 2020, Mohr Capital completed 12 transactions in Arizona, California, Florida, Georgia, Indiana and Texas valued at $200 million.