With construction well underway for a self-storage facility on Celebration Boulevard, GNP Development is moving forward with the second phase of the project.
Managing Partner Mark Gerenger told GrowthSpotter the Tampa-based boutique real estate firm will seek permits for a 39,000-square-foot commercial building, and hopes to break ground by June. The new building should bring total investment on the project to $20 million.
GNP bought the 4.85-acre site, just north of the World Drive interchange, in 2014 for $880,000. Gerenger said he and partner Joshua Pardue always envisioned it as a self-storage site, but getting The Walt Disney Company to agree to the use was a challenge.
"Disney wanted it to be an office building, so we designed a self-storage facility that looks like an office," Gerenger said.
He said Disney was so pleased with the design the company green-lit a second self-storage facility just up the road. Nuvo Development is now under construction on its own Art Deco-style self-storage facility on Celebration Boulevard, scheduled to open in the fall.
"We'll open in July, so that gives us a few months head start," Gerenger said. "After that, I guess we'll have to duke it out."
The developer also bifurcated the property, creating a separate lot for the future office building that will look like a twin version of the storage facility from the street, even though it's about half the size.
GNP is scheduled to meet with Osceola County's Development Review Committee later this month to discuss the site plan before filing a Site Development Plan for the commercial lot.
Gerenger said he's in discussions with a daycare provider for a portion of the first floor, and projects the rest of the tenants would be professional and medical offices.