Foundry Commercial LLC is starting construction on a new $50 million industrial park in southwest Orlando.
The developer plans to break ground in April on the first phase of Crews Commerce Center, a 57-acre, Class A development at Taft Vineland Rd. near Florida’s Turnpike, according to the Orlando Business Journal.
The project will feature 739,410 sq. ft. in six office/warehouse buildings with 30-ft.-high clear heights, increased truck court depths and column spacing to allow tenants to optimize storage capacity and allow for advanced fire-suppression systems.
“To qualify as the best site for distribution in Orlando, it’s crucial to have access to major roadways,” Moses Salcido, principal of development and investment at Foundry Commercial, said in a prepared statement. “Crews Commerce Center not only will provide tenants with the opportunity to travel in any direction with ease, but it also will have the closest access points to all major roadways in the area. We couldn’t have asked for a more ideal location for this development.”
On Dec. 18, Foundry Commercial spent $11.1 million to buy the swatch of agricultural land from Immokalee-based Crews Real Estate LLC.
Des Moines, Iowa-based Principal Real Estate Investors LLC, one of the nation’s largest institutional real estate managers, is Foundry Commercial’s capital partner on the project.