Out-of-market investors spend $1.5M combined in Sanford industrial park

GrowthSpotter contributor

Two industrial properties in different phases of Sanford’s Monroe CommerCenter sold for a combined $1.5 million recently, according to property records and NAI Realvest brokers who represented the sellers in both transactions.

Dania Beach-based investor Edward S. Shevchuk, through his company Shevchuk Inc., paid $1.21 million for a 17,280-square-foot, industrial building at 4295 Church St. in Monroe CommerCenter South Phase III, according to NAI. The deed for the sale had not been recorded as of Thursday.

Shevchuk could not be reached for comment. He was represented in the transaction by Karl Hittinger of TransAct Brokers Inc. in Maitland. 

The seller was RHCP COP Orlando LLC, a company headed by James C. Godey of Jupiter. Godey is affiliated with the Monroe Commerce Center South Owners Association Inc.

The building is divided into four units, all occupied. One 8,640-square-foot unit is leased month-to-month, however, and could be available for an owner/user to occupy or lease out, according to NAI Realvest.

The building, with frontage on both Monroe Road and Church Street, features grade level, 12- by 14-foot overhead doors and skylights.

Meanwhile, in Monroe CommerCenter IV, a two-unit industrial condo at 4280 Church St. sold for $290,000 to Long Island-based investors Mike Jivanelli and Jim LaPenna, according to a deed signed March 20 and recorded April 3.

The seller was SEPCO Services Inc., a now-dissolved company based in Riverview. Michael Heidrich of NAI Realvest negotiated both of the Monroe CommerCenter sales. 

The 2,700-square-foot condo features 100 percent air-conditioned office and warehouse space. The 600 square feet of office space includes two private offices, a break room and two restrooms. The warehouse has two grade-level, 12- by 14-foot overhead doors and seven parking spaces.

Jivanelli, who with LaPenna owns Infinity Landscape Associates in Hampton Bays, New York, told GrowthSpotter he bought the property because it’s in an “up and coming area.” Jivanelli said he has a potential tenant for the building but declined to name the business.

“Both properties are strong assets with a great location right off I-4, on the corner of Church Street and Monroe, and with easy access to SR 417, SR 46 and (U.S.) Highway 17-92,” said Patty Nolff, brokerage specialist with NAI Realvest. 

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