BBX Logistics Properties, FRP Development Corp Announce Plan To Develop Over 200,000 SF Logistics Park
The initial phase of construction is expected to commence in the fourth quarter of 2024 with completion and occupancy anticipated in 2025.
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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.
Patrick Nutt and William Wamble of SRS represented the seller in the transaction.
A three-story building with ground-floor retail will front Plant Street, with the top two floors holding ten apartments.
Pineda Commons will rise on 17.8 acres at 5185 and 5195 N. Wickham Road, just south of the Pineda Causeway.
Brad Peterson, Whitaker Leonhardt and Tommy Isola of Colliers represented the seller, Crosspoint, in a joint venture with Long Wharf Capital.
The property last sold for $17.4 million in 1999.
The 200,000-square-foot park, which is made up of several small bay industrial buildings, is fully occupied.
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