Onicx Group and Aries Capital's acquired 83 acres of industrial land in Edgewater, FL, where they will develop the Space Coast Industrial Park at Parktowne. Onicx Group and Aries Capital, which both have offices in Miami closed on the land for $4.15 million.
The 1 million-square-foot Class A warehouse facility will cater to the underserved demand for industrial facilities in Volusia County, driven by the robust growth of the space vehicle launch industry along Florida's Space Coast.
Phase I consists of two buildings totaling 309,500 square feet. Building 1, which is 133,500 square feet, is slated to break ground in Q1 2023 with Building 2, consisting of 176,000 square feet, to follow thereafter. Anticipated completion of Phase I is Q1 2025.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
