Brothers and local real estate investors Kenneth and Brian Mulvaney are looking for more developers to buy portions of what is now 231 acres of ex-Navy training property they own, west of Orlando International Airport.
Their affiliate Bogey Boggy Creek O8 LLC paid $4.32 million on April 12 to acquire a 54-acre parcel from the City of Orlando, which was former Navy base housing at 9812 Oceanus Dr.
That parcel is contiguous to two others totaling 177 acres, which the brothers bought from the U.S. Navy at auction in January 2008 for $2.3 million.
Those 177 acres sat dormant until December of last year, when the Mulvaneys filed a rezoning request and master plan with the city to develop 3 million square feet of industrial, office and flex space, a development dubbed "Air Commerce Park."
In February, Indianapolis-based developer Becknell Industrial announced it would be buying 40 acres from the Mulvaneys' land entity, and had signed Mattress Firm and Sherwood Bedding to leases for a 478,400-square-foot distribution center to be built this year.
An affiliate of Becknell paid $7 million on March 30 for a lot within the Mulvaneys' 177-acre property.
"We're not developers, so we've been talking with other developers to buy parts of this site," Kenneth Mulvaney told GrowthSpotter on Thursday, after the recent sale deed was registered in Orange County records.
"We have one developer under contract," he continued. "We've had a lot of interest in the rest thus far."
The property offers easy access to Orlando International Airport, the BeachLine Expressway, Florida's Turnpike and Interstate 4, and nearby rail lines.