A local developer of medical offices bought a former State Department of Environmental Health location at 800 and 900 Mercy Drive in Orlando this week, spending $3 million for 3.98 acres.
Newman Properties LLC, traced to Charles E. Newman, sold the warehouse property to 2000 North Orange LLC, a holding of Timothy Majors of Majors Investments, a builder of turn-key Medical Villages.
Shea Ward, of Majors Investments, said Timothy Majors was in his native Australia on Wednesday and unavailable for comment. Ward said there are plans to renovate the property into medical offices.
"Our goal is to acquire a property, completely renovate it and get it 100 percent leased for medical, usually before construction," said Ward.
In this case, the company is aiming to begin construction in May and finish by December, she said.
The general contractor is a subsidiary of Majors Investments, Sunshine Medical Construction, which will hire subcontractors for the project, Ward said.
The seller, Charles E. Newman, did not return calls for comment.
Majors Investments has been busy with local acquisitions and renovations in the past year. The company paid $1.25 million in January for an Oviedo office building near the new Oviedo Medical Center, bought a bank-owned office building in Kissimmee in August for $935,000 to convert to Class-A medical office, and turned a $1.2 million-profit on a Winter Garden property he redeveloped and sold in November, after buying it for $2 million just five months prior.
Have a tip about Central Florida development? Contact me at firstname.lastname@example.org. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.