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ORLANDO—Dalfen Industrial has purchased a 243-acre undeveloped parcel here, where it has plans for a 2.8 million-square-foot speculative industrial project. As the first true bulk development in the city of Orlando, the Class A asset will be able to accommodate users from 500,000 square feet to 1.5 million square feet, and will be economically competitive with other bulk development markets such as nearby Davenport and Lakeland.
The 243-acre parcel is situated along State Road 417 near the interchange with Lee Vista Boulevard in southeast Orlando. The site falls within Orlando's Airport/Lake Nona submarket, which is one of the largest and most in-demand industrial submarkets in Central Florida.
Cushman & Wakefield arranged the sale, and has been retained to lease the speculative development.
Jared Bonshire, Cushman & Wakefield senior director, tells GlobeSt.com that while the project is still in early stages, Dalfen is planning multiple facilities ranging between 100k and 1.5 million square feet, depending on configuration. The project could total over 3 million square feet once completely built out. He says the project's proximity to Orlando's population of over 2.5 million people will make it highly desirable to e-commerce fulfillment tenants.
"With this project, Dalfen Industrial is satisfying a strong need in Orlando, as there are a limited number of development projects in our market geared toward bulk users," said Bonshire. "While there are projects of this scale along the I-4 Corridor, in Davenport, Apopka, and Lakeland, this development is the first of its kind for Orlando."
Dalfen Industrial is one of the nation's largest buyers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen Industrial currently owns and operates millions of square feet of premier industrial properties throughout the United States and in Canada.
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