Med-Office Project Going Up at $162 per SF

CLERMONT, FL-As medical-office developments go, the six-building, 43,000-sf, $7 million Florida Executive Center going up in this Orlando bedroom community isn’t a record-breaker on size and total cost, but it ranks high on tenant demand.

Five of the six buildings are sold. The fast-track, four-month project isn’t expected to be completed until January at a class A development cost of $163 per sf. Most comparable structures have been put up for less in the past, generally under $100 per sf, construction industry estimators tell GlobeSt.com.

Local developers Dan Hessburg and Ron Carlson, president of Carlson Commercial Builders, are confident their original spec venture will be a sellout before they receive their city-authorized certificate of occupancy.