Winter Park-based DeMabry Holdings Inc., a land acquisition and development firm headed by Gino Della Cava, is planning two new warehouse buildings in the Aero Lane Industrial Park in east Sanford.
Della Cava, also president of local general contractor ACS Construction, told GrowthSpotter on Wednesday he hopes to break ground on the 3.24-acre site at 600 Aero Lane in about four weeks. Both structures should be finished by the end of First Quarter 2018, he said.
ACS will serve as GC on the project, and the company will occupy one of the 15,000-square-foot buildings once they're completed. The second building of equal size will be up for sale or lease.
"There's quite a bit of industrial development going on there," said Della Cava, who noted the location is served by several main traffic arteries. The property is east of Interstate 4, north of S.R. 417, west of Martin Luther King Jr. Boulevard, and south of S.R. 46.
"Oddly enough, there's a lot of significant residential also going on in that corridor, which is a good indicator of what's going on there," he said.
DeMabry submitted site plans to the city last month and they are under review, said Russ Gibson, director of Planning and Development Services. No public hearings are required for the plans' approval.
Seminole County had more than 23.77 million square feet of active industrial and flex-industrial space as of the third quarter this year, with a total vacancy rate of 6.8 percent, net absorption year-to-date of 373,041 square feet, and another 166,500 square feet under construction, according to the latest quarterly market report from Colliers International Central Florida.
Della Cava said he is talking to a dental supply company about leasing part or all of the second building, but for now the space is still available. The building would be suitable for manufacturing or service-type companies such as engineering or mechanical firms.
"It's a broad spectrum of entities that this would be marketed to," he said.
DeMabry Holdings paid $480,000 for the property last month in a deal brokered by LandQwest Commercial Orlando. The seller was Cox Warehouses LLC, a Debary-based company headed by John M. Cox.