Winter Park-based construction firm Pennington & Associates plans to build its new headquarters along with retail-office space in Seminole County near Oviedo.
The company's new development arm, Pennington Development Group, will build the project on land currently owned by the Clayton family on Aloma Avenue, one mile east of the Central Florida Greenway (S.R. 417). The group's principal, Chuck Hollis, told GrowthSpotter that Pennington has a contract on the land and should close soon.
Pennington & Associates is the general contractor and has opportunities available for subcontractors, Hollis said. The developer has yet to file construction permit applications with the city.
The project will consist of two buildings totaling 20,000 square feet on the property's 3 developable acres. Pennington will use approximately 5,000 square feet in one of the buildings for its new headquarters. The rest of the building will be leased.
The second building will have a drive-thru for a quick-service restaurant. Additional space in that building is for sale or lease. The company's total investment, including buying the land, will come to about $5 million, Hollis said.
"We'll be breaking ground this spring," Hollis said. "Right now, there is space to lease. We'll deliver space in Fourth Quarter 2018."
Hollis said the property has several advantages including multiple entrances.
"We liked the proximity to 417 and the growth in eastern Seminole County," Hollis said. "And three access points -- two signalized -- on a 3-acre property. You just don't see that typically."