North American Properties acquired 21 acres of land near the Kennedy Space Center in Florida's Space Coast.
The land is located within Titusville's Riverfront Center development, at the entrance to the Kennedy Space Center, in the southeast corner of NASA Causeway and U.S. 1. On either side of the parcel sits the Boeing and Lockheed Martin companies.
North American Properties is a real estate operating and development company based in Cincinnati, Ohio. The company was founded in 1954, and owns and manages more than $7 billion of multifamily, office and mixed-us and retail properties in the country, amounting to about 22 million square feet of commercial space and 19,000 residential units in 15 states.
North American Properties' plans include multiple buildings that will total 135,000 square feet of office space, office warehouse space, and manufacturing space. The plans may also include commercial outparcels. North American Properties managing partner in Florida Shawn McIntyre said the company intends to have the first phase of the project completed and ready for lease in a year.
Companies such as SpaceX, Blue Origin and United Launch Alliance have been fueling growth in the Space Coast region.
"We see tremendous growth potential in this region, and we're accelerating our plans to meet the demand for industrial space by the vendors and suppliers that serve the defense and revitalized space industries," McIntyre said.
The company's partners in project include DAG Architects, ATKINS, Collins Brown Barkett Chartered, NAI Talcor and The Taproot Agency.
North American Properties has is developing three other projects in Florida, including a $150 million mixed-use development project called Cascades Project in Tallahassee, which will include restaurants, offices, residential units and an AC Hotel by Marriott. The company's other projects in the state include SkyWalk in Fort Myers, Stadium Centre in Tallahassee, and Grand National in Orlando.
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