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Investor purchases FARO Technologies, Inc. U.S. production facility in Lake Mary

125 Technology Park_MG_9407 Resized for Web Display
By Joe Rossi and Thevin Campton

New York-based investment group purchased the property for $5.15 million

In October 2019, A joint venture between The RSP Companies and Great Point Properties, both NewYork-based investment firms, has purchased the FARO U.S. manufacturing facilityin Lake Mary for $5.15 million. The purchase of the 36,401-square-foot property, located at 125 Technology Park, marks the company’s first investment in the Central Florida commercial real estate market.

Joe Rossi, CCIM, and T.J. Campton, CCIM of Colliers International Central Florida represented the seller, Emma Investments, LLC. The buyer is 125 Technology Park, LLC.FARO is the building’s only tenant.

“The FARO building received significant interest and offered several features investors found attractive,” said Joe Rossi, CCIM, Executive Managing Director of Investment Services at Colliers International Central Florida. “The investment offered over six years of cash flow in an area surrounded by some of Orlando’s top demographics in terms of household income, schooling and workforce proximity.” 

Based in Lake Mary, FARO (Nasdaq: FARO) develops and manufactures leading-edge solutions that enable high-precision 3D capture, measurement and analysis that digitize complex geometries of prototypes, products and assemblies across a variety of industries, including manufacturing, construction, engineering and public safety.

The property, located in Technology Park, was custom built for FARO in 1991. Since then, the company has completed extensive renovations to the property, adding clean rooms, chilled research and development laboratories, climate-controlled rooms and walk-in coolers. Additional power and HVAC units have also been added to the facility. 

“There is typically more risk associated with single-tenant spaces because of the cost to backfill and refit the space should the tenant move out,” said T.J. Campton, CCIM. “However, FARO has occupied this building for close to 30 years and has demonstrated its long-term commitment to the space by investing in a number of improvements.” 

 

 

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Joe Rossi | Colliers | Orlando

Joe Rossi

Executive Managing Director, Investment Services

Orlando

+1 407 362 6139
+1 407 230 2809
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Joe Rossi, CCIM, is the Executive Managing Director of Investment Services at Colliers International in Central Florida, leading Colliers’ Capital Markets platform with a focus on industrial, office, flex and medical properties throughout the State of Florida. Joe, a 28-year veteran, is a highly-regarded professional within the Florida real estate investment markets and has established a vast network of investors and financial contacts. Joe has spent the majority of his professional career working extensively to represent institutions, private equity, individual investors, and owner/operators to procure the best possible outcome for their acquisition/disposition needs. Joe provides expert guidance and advisory services to his clients throughout all stages of their ownership cycle including asset management, portfolio analysis, sale advisory and consulting. Over his career, Joe has generated more than $900 million in transactional sales volume across more than 8.1M square feet of space.

Prior to joining Colliers, Joe's business background includes:

  • Senior Vice President – Investment Services at Lincoln Property Company for four years where he handled office, industrial and retail investment sales. He closed transactions in excess of $64M across 15 transactions, acting as a receiver where needed. 
  • Senior Vice President – Investment Services Group with Grubb & Ellis for 6.5 years and was a key member of their Financial Services Asset Management and Distressed Property Services groups with over $170 million in 32 transactions.
  • Manager - Real Estate Investments at The St. Joe Company from 1998-2004, directing the disposition of over 1M square feet of commercial properties. 
  • Real Estate/Budget Analyst for Koger Equity, performing underwriting analysis and research across more than 1.6 million square feet of office development projects and 2 million square feet of office acquisitions. Joe was also responsible for the budgeting and cash flow projections for the entire 36 million square foot portfolio.
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Thevin Campton | Colliers | Denver

Thevin Campton

Director, Investment Sales

Denver

+1 720 833 4628
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Thevin Campton, CCIM began working in commercial real estate with Colliers International. Since joining Colliers, he has closed over $350mm in commercial real estate sale transactions, specializing in office, industrial and flex assets. Thevin specializes in income-producing real estate, representing REITs, private equity, developers, corporations and family office investors, locally and nationally, on the disposition of their real estate. Services include property analysis, seller representation, 1031 exchanges, sale-leaseback structuring, off-market transactions, and property research, marketing and sales. Thevin provides a high level of advisement, adding depth by fully understanding each asset to foresee opportunities and resolve issues, and maximizes exit values.

Specialties: Investment dispositions, corporate sale-leaseback structuring and downREIT portfolio acquisitions, single-tenant and multi-tenant properties, income-producing real estate, sales,  marketing, private equity, negotiation and assisting in portfolio decisions.

Email: thevin.campton@colliers.com
Office/Direct: (720) 833-4628

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