UPDATED: August 22, 2018 6:25 PM — Tavistock Development Company is partnering with McCraney Property Company to co-develop 1.26 million square feet of highly-designed distribution logistics facilities.
The two companies jointly announced the partnership on Wednesday. Earlier in the week Tavistock updated plans for what could eventually be the second office building site in its 206-acre "Infinity Park" property near Orlando's tourism corridor.
The plan update comes a month after the developer's land owner affiliate filed a broader plan in mid-July with the South Florida Water Management District, which forecasted up to nine industrial warehouse pads and five future subdivided parcels for general commercial use, including office.
CBRE's David Murphy and Monica Wonus have been selected as the leasing representatives for the distribution and logistics segment of Infinity Park.
Tavistock filed a change request on Monday with Orange County to amend a formerly approved Development Plan from 2014 for the 6.7-acre Parcel 2 in Infinity Park. The intent is to match new lot lines and a road alignment change on a proposed Preliminary Subdivision Plan change.
The DP calls for a three-story office building with a 43,083-square-foot footprint, totaling 131,589 gross square feet over three stories and the option to add a fourth floor (total 175,842 SF), with surface parking to along Consulate Drive and a larger surface lot directly north with the option to add a second-story deck.
Tavistock has no timeline set to build the Parcel 2 office building now, and is simply updating the DP on file to keep the site shovel-ready, spokeswoman Karlee Kunkle told GrowthSpotter. The developer also has not set a timeline to begin horizontal site and infrastructure work on Infinity Park, she added.
Tavistock sold a 21-acre corner of Infinity Park for $36.55 million last December to Orange Lake Resorts, which it bought for an existing office building and adjacent land planned for a new corporate campus.
Located with frontage on S. John Young Parkway, just southeast of Destination Parkway and near an intersection of the Florida Turnpike and Beachline Expressway, the property has sat mostly undeveloped since 2010.
C.T. Hsu, president of Orlando-based architecture, design and urban planning firm C.T. Hsu + Associates, formed an LLC with his wife Jean Hsu and Tavistock in 2007 to buy what was then a 206-acre industrial/commercial property from semiconductor producer Agere Systems, at a cost of $50 million.
Portions were sold off in the years since, and the balance known as Infinity Park now spans 196.28 acres, rich with entitlements and Planned Development zoning that have long been marketed for a range of commercial and industrial uses.