Orlando, FL
Consultant on this Project: David Mc Gregor
Development of West Sanford Business Park
Dec 2015 to 2021
Highlights
A 139,000 square foot development was to be built on a 9.58 acres site to provide small bay, grade level flex space and service center space for the trades and skilled small business. This facility was to offer affordable space, serve as a business incubator and provide employment opportunities. The type and activity of the tenants would have included light manufacturing, warehousing, wholesaling, storage, assembly, and distribution of goods.
Involvement on this Project Asset:
Locate Site, entitlement including “up to and ready for permits.
- Purchased site for $2.30 psf in Dec 2016.
- Spent $93,970 on Entitlements
- Were ready to spend $396,090 on Municipal Fees & Permits
- The site had seven DEP monitoring wells.
- Successfully neutralized and removed the monitoring wells with the FDEP consent and without costs.
- We sold the site for $6.00 psf In December 2021.
- The Excel IRR was 24%.
Note:
The JV equity investor suffered a significant health event and decided not to develop.
Address:
205 Aero Lane, Sanford, Florida 32701