Joe Hills
ORLANDO—Demand is clearly rising for industrial space across Central Florida. Beyond McCraney Company's spec industrial developments and the many acquisitions, JLL just inked two new lease transactions totaling 309,400 square feet of warehouse distribution space.
JLL vice presidents Joe Hills and Josh Lipoff, partnered with Damian Rivera, president of national account services of E. Smith Realty Partners, to represent Mattress Firm and Sherwood Bedding in the leases. Retail chain Mattress Firm and mattress manufacturer Sherwood Bedding are the tenants. The companies will occupy side-by-side 154,700-square-foot spaces in a brand new 478,400-square-foot cross dock facility in the Air Commerce Park.
“Both Mattress Firm and Sherwood Bedding aligned their business interests to secure a regional distribution center together that will provide a central access point to best serve their Central Florida customers,” says Hills. “Sherwood Bedding is a manufacturing partner for Mattress Firm, making perfect sense from an efficiency and cost standpoint for the two companies to occupy contiguously within the same building. As Mattress Firm continues its state-wide expansion, the retailer plans to roll out many stores throughout Florida and to strategically position their distribution model in close proximity to the population centers they serve.”
This dual lease transaction marks the new Air Commerce Park's first tenants. Located just west of Orlando International Airport, the industrial planned development spans over 3 million square feet on over 230 acres.
Phase 1 will be a 478,400-square-foot distribution building on 40 acres developed by Becknell Industrial, a Chicago based firm, along with local planning consultants, Mike Stuart & Florida Engineering Group. Sherwood Bedding plans to occupy the building in the fourth quarter of 2016, while Mattress Firm will take occupancy in June 2017.
In South Orlando, Foundry is developing Crews Commerce Center, a $50 million class A industrial park in South Orlando. The 739,410-square-foot park will offer six industrial buildings developed in two stages.
“To qualify as the best site for distribution in Orlando, it's crucial to have access to major roadways,” Moses Salcido, managing director of development for Foundry, tells GlobeSt.com. “Crews Commerce Center will not only provide tenants with the opportunity to travel in any direction with ease, but it will also have the closest access points to all major roadways in the area.”
NGKF just announced a move that shows it's serious about Central Florida industrial and Lakeland recently saw the largest industrial spec deal in a decade. Will Central Florida see much more industrial spec? Sound off.
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