A local excavating company paid $1.2 million in mid-April for new property near Orlando International Airport, where it can expand operations with double the land of its previous home.
Founded in 1988, Joe McGrady Excavating, Inc. specializes in new swimming pool excavation, rebar layout and demolition of old pools for residential and commercial clients.
The family business has owned and occupied a 1.65-acre site for the past decade along E. Wetherbee Road, also near the airport, with about 5,400 square feet of office and warehouse area.
Its new property at 11731 Airport Park Drive is more than double the gross area at 3.23 acres, and offers more combined building space with 7,154 square feet.
The greater land area will allow the company to grow by expanding its storage area for equipment and dump trucks.
Joe McGrady Excavating plans to relocate to the new property over the next two months, and will attempt to lease its old location, according to a company spokesman.
The sale closed on April 18 and was recorded Wednesday in Orange County. A mortgage of $900,000 was sourced from Regions Bank.
The seller was an affiliate of Global Drilling Equipment's owner Mohammed Baker, who previously paid $450,000 in 2005.