Onicx Group, a Tampa-based private real estate firm, is pleased to announce that it and Aries Capital recently purchased and closed on 40 acres of fully-entitled land for a planned 240,000-square-foot industrial park at 2901 E. New York Ave., DeLand, FL 32724. The deal closed for $3.8 million. The purchase marks Onicx Group’s and Aries Capital’s second industrial park development in Volusia County.
In July 2022, through a joint venture, Onicx Group and Aries Capital acquired 83 acres of industrial land for $4.15 million in Edgewater, Florida, where they will develop the 1 million-square-foot Class A industrial park, Space Coast Industrial Park at Parktowne.
For the DeLand industrial park transaction, Bob Rand, CCIM, SIOR of Coldwell Banker Commercial Benchmark in Ormond Beach, Florida represented Onicx Group and Aries Capital. The seller was HY-EM USA Properties. Pilot Bank of Tampa, Florida provided financing for the purchase.
Onicx Group Director of Development Scott Claiborne led the site identification and development approval process in the transaction. Aries Capital’s Chairman & CEO Neil Freeman, Director of Acquisitions Matt Carney and Director of Capital Markets Brandon Perdeck spearheaded the land acquisition and continue to leverage their industrial private equity practice to optimize transaction structure and financing.
Onicx Group VP of Investments Arjun Choudhary said, “We are pleased to continue to expand in the industrial park/warehouse facility market in Volusia County, to cater to the area’s underserved demand for industrial facilities. This demand is driven by the strong population and business growth in Central Florida.
“The industrial facility in DeLand will serve the needs of distribution, warehousing and logistics tenants in one of Florida’s fastest growing submarkets along the I-4 corridor,” said Aries Capital Director of Acquisitions Matt Carney.
About Onicx Group
Onicx Group (“Onicx”), headquartered in Tampa, is an established multi-asset developer with focus in healthcare, multi-family, industrial, and mixed-use commercial real estate. With a long-standing focus in healthcare real estate and an unparalleled sector knowledge, Onicx is a prominent healthcare real estate developer and a trusted real estate partner for health systems and physician practices and other healthcare providers. To learn more, visit www.Onicx.com.
About Aries Capital
Aries Capital is a diversified commercial real estate banking and investment firm headquartered in Chicago with offices in Miami and Los Angeles. Since the firm’s inception in 1991, the Aries team, led by Founder, Chairman and CEO Neil Freeman, has completed over $350mm of principal investment transactions and over $8.5bn of capital markets transactions nationally.
Aries Capital Private Equity is a principal investment division of Aries Capital focused on the acquisition, operation and development of middle-market industrial and logistics assets nationally. Our private equity group leverages the firm’s position as both capital markets bankers and principal investors to source a wide funnel of unique and proprietary deal flow and capital solutions. Aries’ institutional approach and longstanding capital markets relationships create a competitive advantage with respect to sourcing, diligence, structuring and financing of middle-market transactions. To learn more, visit www.AriesCapital.com.