Industrial REIT Prologis is looking to expand its presence at the Airport International Park of Orlando, AIPO, with the addition of four new warehouse buildings.
AIPO and Prologis jointly filed plans with the City of Orlando to bring more spec industrial space to the airport submarket. Denver Glazier, senior vice president and investment officer for Prologis East Region, confirmed the planned expansion.
“The Airport International Park of Orlando offers quick access to Orlando’s 2.6 million population as well as connectivity to other Central Florida regions and beyond,” Glazier said. “Prologis is investing in the park’s expansion with the design of these four buildings, potentially adding 900,000 square feet of industrial space to the property’s total portfolio.”
The largest of the four new warehouses, dubbed project Lyric, would rise on a 29.7-acre tract on Tradeport Drive just west of Boggy Creek Road. The developer has filed a master plan seeking approval for a 472,583-square-foot cross-dock distribution facility. The warehouse would provide over 400 vehicle parking spaces and multiple access points, including a cross-access easement with the Stihl warehouse next door.
The second-largest building is slated for lot 45 in the industrial park. The site comprises approximately 14.42 acres and is located on the southern end of Florida Crown Drive. Prologis plans to build a 221,740-square-foot warehouse on the site. The loading area will be dock-high and located in the side and rear of the building facing the existing railroad and stormwater pond. The building will be developed as a speculative building that will accommodate multiple tenants.
The third building would rise on a 7.7-acre parcel at the southwest corner of Boggy Creek Road and Tradeport Drive. It would be another multi-tenant spec building with a gross floor area of 121,628 square feet. The building entrance doors will face the employee and customer parking lot and Boggy Creek Road. The loading area will be dock-high and located in the backside of the building facing existing industrial development on Tract 27.2.
The smallest warehouse would be constructed on 2.9 acres on the east side of Central Port Drive. It’s planned to be 42,420 square feet and is designed to accommodate a single tenant, or two at the most.
The 1,350-acre industrial park just west of Orlando International Airport was initially developed by Liberty Property Trust. Prologis acquired it when the firm absorbed LPT in early 2020 as part of a $13 billion all-stock deal.
Last year Prologis completed a 266,055-square-foot spec warehouse directly south of City Beverages’ Budweiser distribution facility at 10928 Florida Crown Dr. Humana leased 162,656 square feet in the building, representing the largest lease signed in the fourth quarter of 2020. Other companies in the park include Amcor, Lennox and Shaw.
Nearby, Amazon is also taking occupancy of 561,750 square feet at Air Commerce Park in southeast Orange County, along with Sprouts Natural Market, which is building out a 134,500-square-foot distribution center at the industrial park.
Just west of the Florida’s Turnpike, Brookfield Investments has sought permits for 800,000 square feet of industrial space across three spec warehouse buildings in the new McCoy Field Logistics Center.
McCraney Property Company completed and fully leased its 700,000-square-foot Bent Oak Industrial Park, built on speculation in 2017 along Taft Vineland Road near the Beachline Expressway-Florida’s Turnpike interchange.