The firm bought the property at 140 Maritime Drive for $2.8 million according to a deed signed Jan. 23 and recorded a day later. The purchase includes a 15,206-square-foot warehouse/distribution center built in 1999, and an auxiliary, wall-less building, 9,870 square feet in size and built in 2002, according to Seminole County Property Appraiser records. The class B warehouse includes two loading docks and office space.
The seller was Boathouse Capital, a debt and structured equity investor based in Wayne, Pa. Boathouse purchased the property in last month for $1.9 million from Energy Planning Associates, now called Envirobright, also located on Maritime Drive in Sanford.
A Boathouse spokesman could not be reached for comment.
Creative Images assembles and distributes mirrors for single-family and multifamily residential units, hotels, motels and nursing homes, according to Marc Lieberman, one of the company owners. Lieberman said Creative Images bought the property because the lease was up at its current location, 6802 Stapoint Court, Winter Park.
"We like the location, we like the building, and Sanford is a pro-business environment," Lieberman told GrowthSpotter. "We have a lot of local customers in the Orlando area and tons in Florida."
Lieberman said Creative Images' entire operation, including about two dozen employees, will be transitioning to the Sanford location in the next few months. He said the recently purchased warehouse needs little in the way of repairs other than some paint and carpet.
"Our first job is to move into the new location and to make a smooth transition," he said. "We hope to grow and, obviously, we hope to hire people."
Lieberman said his company's success is due to quick turnaround on orders and good customer service.
"You have a lot of people importing from China and, forget about quality issues, but they don't have quick turnaround times," he said. "Because we're doing the assembly ourselves in Orlando and we have a customer service team in Orlando, we're able to shine in those two areas and outperform our competition."
The buyer took out a $1.1 million mortgage with Zions Bank.
Have a tip about Central Florida development? Contact me at Newsroom@GrowthSpotter.com or (407) 420-6261. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.