According to Geof Longstaff, COO at Maitland-based NAI Realvest, which is developing the high-tech project, the first construction phase at Monroe CommerCenter North--on the north side of Church Street--comprises 90,000 sf. Tilt-wall design offers 24-foot clearance throughout to attract large-scale regional distribution and manufacturing operations.

"We have already generated significant interest from several potential users, including a Fortune 500 company," Longstaff says, adding that a second, 97,000-sf phase is planned to follow.

Edwards Construction Co. has been named general contractor for the $8.6-million project, the first phase of which should open by Q4 2002. The next phase, Monroe CommerCenter South, will include five buildings on a 9.2-acre site that will offer warehouse, showroom and office facilities ranging from roughly 1,500 sf to 2,500 sf, along with outdoor storage facilities. "Typically, a large regional distributor will attract several smaller suppliers - manufacturers and importers - who need to locate nearby," Longstaff notes. "We plan to accommodate them all," he added.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.