Stonemont Sells 259,255-Square-Foot Industrial Park in Ocoee, Florida
Stonemont has completed the sale of 429 Business Center, a 259,255-square-foot, seven-building industrial park in Ocoee, Florida, the firm announced Sept. 21. Developed in partnership with SCOA Real Estate Partners and delivered in 2025, the multi-tenant park sits along Ocoee Apopka Road within the State Road 429 corridor, approximately 15 miles from Walt Disney World.
Property Details and Leasing at Sale
The seven buildings at 429 Business Center front Ocoee Apopka Road, with addresses anchored around 409 to 448 Ocoee Apopka Road in Ocoee, FL 34761. The park is divided into East and West sections — roughly 60,982 square feet and 198,271 square feet, respectively — and offers bay sizes starting around 6,000 square feet. Clear heights range from 20 feet to 32 feet, with both front-load and rear-load configurations available, positioning the park for light distribution, service, and contractor users.
At the time of the sale, Stonemont had leased more than 130,000 square feet within the park to six tenants, with several buildings reaching full occupancy. The park was approximately 49% pre-leased shortly after its 2025 completion, reflecting steady lease-up activity through 2025 and into 2026.
"When we first set out to develop 429 Business Center, we were confident that a flexible and well-located product in this rapidly growing market would prove to be competitive," said David Kaplan, vice president at Stonemont. "Leasing several of the buildings to full occupancy ahead of the sale speaks to the continued tenant demand and is a positive indicator for future growth and investment in the corridor. This is a strong outcome for our team, and a testament to what high-quality, ground-up industrial development can deliver in Central Florida."
Stonemont's Florida Industrial Portfolio
Stonemont owns more than 4.4 million square feet of industrial real estate across Florida. Current holdings include TIA Executive Center, a 100,698-square-foot rear-load industrial facility in Tampa; Sand Lake Commerce Center, a two-building, 229,989-square-foot project in Orlando; Sunlake Business Center at SR-54, a two-building, 361,000-square-foot speculative industrial project in Lutz; and Topline Logistics Center, a 457,000-square-foot cross-dock warehouse in Ocala.
$1.02 Billion Portfolio Acquisition
The sale comes as Stonemont has also pursued large-scale acquisitions. Alongside capital partner PCCP, Stonemont closed on a $1.02 billion portfolio of 38 industrial buildings acquired from Blackstone's Link Logistics. That portfolio includes 822,768 square feet of assets located in Central Florida.
Central Florida Industrial Market Context
The 429 Business Center sale fits into a Central Florida industrial market where small-bay, last-mile product has outperformed a softening big-box sector, and where institutional capital has remained active despite higher vacancies and cap rates. Orlando industrial rents have tracked in the low- to mid-teens per square foot on a net basis, and institutional-quality logistics product in the market has generally traded with cap rates in the mid-5% to mid-6% range for well-located assets, with multi-tenant small-bay parks trending toward the higher end of that range.
The State Road 429 corridor, which connects Ocoee to broader Central Florida transportation infrastructure, has drawn continued industrial investment given its access to distribution networks serving the greater Orlando metro.
Sources
Stonemont Financial — Stonemont Completes Sale of 429 Business Center Outside of Orlando