Midwest builder to buy 50 acres in new OIA-area biz park

Press Mentions

A Midwest industrial builder plans to buy about 50 acres in a new business park that's taking shape near Orlando International Airport.

Becknell Industrial has property under contract in Air Commerce Park, Dan Fogarty, Becknell's senior vice president of development, told Orlando Business Journal. The 50-acre property is immediately west of another 40 acres Becknell bought for $7 million in March to build Air Commerce Park's first 478,400-square-foot, $10.3 million distribution center at 3650 Eighth St. Fogarty declined to comment on the price of the next 50 acres.

Becknell Industrial plans to buy more property in Orlando's Air Commerce Park.
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Becknell Industrial plans to buy more property in Orlando's Air Commerce Park.

RYAN MCVAY

"There's a demand for modern, quality industrial space," Fogarty told OBJ. "Even though Orlando has a relatively vast inventory of industrial property, the vast majority of it is outdated. That's why we feel very confident to develop in the area."

Becknell has corporate offices in Indiana and Illinois. Its plans to buy more Orlando property means more construction and leasing opportunities likely are on the horizon for local businesses.

Air Commerce Park is slated to be a 230-acre industrial business park west of the airport and Tradeport Drive, and east of Boggy Creek Road. Brian Mulvaney's Bogey Boggy Creek 08 LLC owns the property, and has been marketing it to developers interested in a larger Orlando industrial portfolio. Orlando's industrial market has a 5 percent vacancy rate, an eight-year low.

Air Commerce Park's first distribution center by Becknell is underway. Site work began in May, and on Aug. 11, the city of Orlando issued a building permit for vertical construction that should be completed by year-end, Fogarty said. The building will house Mattress Firm and Sherwood Bedding that collectively are taking 309,400 square feet. The remaining 169,000 square feet is being marketed by CBRE Inc.'s Senior Vice President David Murphy, who previously told OBJ a "gamut" of businesses have shown interest.

Check back for more information on Air Commerce Park, and see here for other local commercial real estate news.

Williams covers commercial real estate.

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