$71M Research Project Rises in Central Florida

Central Florida’s manufacturing real estate market is gaining momentum.

ORLANDO—The Florida Advanced Manufacturing Research Center’s (FAMRC) superstructure has topped off. Rising in Osceola County, FAMRC is set to become a major economic driver as the first facility in Florida with the capability of providing a high-tech manufacturing platform. Skanska executed the final guaranteed maximum price amendment of $25 million. That brings the total contract value to $71.4 million for the design and construction. “This project is set to create a new hub for manufacturing and research that will generate thousands of jobs, while positioning Osceola County as a leader in innovation and research,” says Matt Gilbert , senior vice president at Skanska USA Building in Orlando. “This high-tech facility will deliver devices and systems that will enhance people’s lives and their communities for years to come.” The FAMRC development, which sits on 20 acres of land near the intersection of US 192 and Florida’s Turnpike, will include a 109,000-square-foot, research and development lab facility. The focus is semiconductor research and, manufacturing. The center aims to draw companies focused on developing advanced manufacturing products, a high-wage sector. New devices and systems that will transform fields such as healthcare, transportation, agriculture, and consumer products are expected to be manufactured there. The area is seeing traction. IMEC, the world leading nanoelectronics research center, has chosen Osceola County to open IMEC Florida, a new entity focusing on photonics and high-speed electronics Integrated Circuit design. The new center will work in close collaboration with the International Consortium for Advanced Manufacturing Research, further cementing the county’s efforts to become the heart of smart sensor innovation. Central Florida’s manufacturing real estate market is gaining momentum. TRAK Microwave, part of Smiths Interconnect, in May inked a 117,000-square-foot lease at Eisenhower Technology Park in Tampa, FL. The firm manufactures technically differentiated electronic and radio frequency products. The company signed a seven-year renewal for the facility, which is located in Eisenhower Technology Park at 4726 Eisenhower Boulevard. TRAK Microwave has been a tenant in the building for more than 30 years. The company has more than 200 employees at the Tampa location and more than 400 employees companywide. “The remaking of the North American supply chain and the impact on Southeast and Gulf Coast ports is going to be huge,” KC Conway , a senior vice president of credit risk management at SunTrust Bank . “We already see it at ports like Savannah, Charleston , and the up and comer port of Mobile where Airbus is manufacturing its new commercial aircraft to compete with Boeing’s being built in Charleston SC.” Central Florida CRE remains strong with Multifamily, Retail and Industrial leading the way. Are You In The Know? How can you profit? Join us at RealShare Central Florida on September 7th for impactful information from the leaders in Central Florida CRE.Learn more.