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Former principal and founder of Bishop Beale Duncan, William D. Bishop, also known as Billy, has joined forces with industry veteran, Kyle Wood to establish the new commercial real estate company.
Anne Spencer and Angela Flint of Cushman & Wakefield’s Florida Healthcare Advisory Practice represented the seller, a private investor group, in the transaction.
Derek Riggelman of Lee & Associates represented the undisclosed seller in the $9.8 million transaction.
Construction of the $500 million, 900,000-square-foot mixed-use project, to be called Westcourt, is set to break ground in late 2024.
“SRS continues to grow our team in Florida as well as around the country to help meet the demand we’re seeing from retailers who are looking to expand,” said John Artope, SRS Executive Vice President and Florida Market Leader.
Gabriel Britti, Issenberg, and Ricardo Esteves of Marcus & Millichap’s Issenberg Britti Group had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a local LLC.
The initial phase of construction is expected to commence in the fourth quarter of 2024 with completion and occupancy anticipated in 2025.
Basis President/COO Anthony Scavo and Head of Acquisitions Ahmad Elayyan represented the company in the off-market transaction.
Located at 444 Hermit Smith Rd. on a 79-acre industrial site in the Apopka submarket of Orlando, the project will be developed by developer Trammell Crow Company and include three buildings. The first phase of Apopka Business Center is expected to be completed in 1Q 2025.
The property is 98% occupied.
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