- August 4, 2026
A 53,330-square-foot industrial facility located in Ormond Beach's Airport Business Park recently sold for $5.6M.
Owned by a JP Morgan Investment Management entity, the facility at 7 and 9 W. Tower Circle was purchased by Thoroughbred Classics, LLC, owned by Daytona Beach resident Rick Cordes, according to a press release. The property sold on July 23 and currently has industrial warehouse buildings.
"This transaction is a great reminder that industrial real estate is ultimately a people business," said Mike Salik, senior vice president with Matthews Real Estate Investment Services, in the press release. "Every transaction presents unique challenges, but the best outcomes happen when everyone stays engaged, communicates openly, and focuses on solving problems rather than creating them. We're grateful to both the buyer and seller for their professionalism throughout the process and proud to have helped guide the transaction to a successful closing."
According to the press release, the property's "strategic location, functionaility and long-term investment potential" drew the most investor interest. The sale price equals about $105 per square foot.
For Salik, the transaction also reflects a broader trend within Florida's industrial market, which the press release states continues to be one of the strongest sectors within the state's commercial property market, as demand for warehouse, manufacturing and distribution facilities remains steady.
"Industrial real estate continues to be one of the most important asset classes supporting our state's economic growth," Salik said. "These properties are where products are manufactured, distributed, stored, and delivered. As Florida continues to grow, quality industrial facilities will remain critical to supporting businesses, jobs, and the communities they serve."
