A local cargo trucking company paid $875,000 on Wednesday to consolidate its operations and grow in northwest Orange County, and plans to design and build two new buildings on site in the coming months.
Located at 5350 N. Pine Hills Road, south of the intersection with Clarcona Ocoee Road, an investment affiliate of Nationwide Express LLC bought the 4.9-acre property that has recently been leased by Waste Pro of Florida. It includes one small warehouse previously used for vehicle repairs of 5,070 gross square feet.
Nationwide Express has been a mid-sized contract transporter of dry and refrigerated goods since 2007 in Florida, and based in Orlando since 2009 with 50 trucks now under management.
But over the past eight years here, operations manager and owner Felipe Olaciregui has coordinated three different segments of the business from three leased locations, with his dispatching, driver training and truck repair divisions all based separately.
"It has become too much work and too much stress. I've been looking for almost four years to have a single terminal where we can build for all three (divisions) to be done from one property," he told GrowthSpotter. "This move will allow us to expand and be a lot more organized. Today I travel a lot from one office to another to make sure everything is managed properly."
The one small warehouse on site will be retained, and likely re-skinned to position as the company's truck repair building, Olaciregui said.
He began cold-contacting general contractors in the past week to field quotes on the cost to design and build two more 5,000-square-foot buildings, one for staff training and the other for administration and dispatch.
"I'm waiting on quotes now. It might take a couple of months until we can move forward on everything," Olaciregui said. "By July I think we'll be able to be operating (partially) on the property, and by end of year running 100 percent there."
The buyer sourced a $656,250 loan from First Green Bank to help finance the land purchase. Another construction loan will likely be sought for work on the three buildings, Olaciregui said.
Frank Silverman, co-partner with Vision Development & Management, has leased office space to Nationwide Express for the past seven years and helped Olaciregui through the process of buying his new property and sourcing a loan.
The seller was Teresa Jane Landrum, who previously paid $82,600 in 2005 to buy the property outright from a minority investment partner.