Some of the first set of plans for Timberline Real Estate Partners’ 1,600 acres in West Daytona Beach is coming into focus.
According to an environmental resource permit application submitted in the St. Johns River Water Management District, Timberline is seeking permits for its proposed Sungate Logistics Park, which will take up about 855.5 acres at 900 Indian Lake Road.
Stan Nix, CEO of Timberline, told GrowthSpotter that the company is focusing on the development of the Sungate Logistic Park, but also planning a range of mixed-use projects on the balance of the 1,600-acre portfolio it purchased from CTO Realty Growth Inc. for about $67 million in December.
Nix stated that the non-industrial sites, which are clustered around the intersection of Interstate 95 and LPGA Boulevard, will encompass retail, office, hospitality, apartments and Built-To-Rent residential units. The company plans to partner with other developers on the non-industrial sites.
“There are certain parcels we will retain and certain parcels we’ll sell to third-party developers or that we’ll jointly develop with others,” Nix said.
Sungate Logistics Park will include over 5 million square feet of warehouse distribution space as well as workforce housing and retail offerings.
Phase 1 of the planned Sungate Logistics Park will feature up to about 2.2 million square feet of industrial space across three subdivided lots. Lot 1 is slated to consist of 1.3 million square feet of industrial space, Lot 2 with 600,000 square feet of industrial space and Lot 3 with 313,500 square feet.
Nix said the company is working with Colliers to handle leasing.
Lot 1 will likely be a built-to-suit for a tenant, he said, while Lot 2 is being built in spec. An additional 300,000-square-foot spec industrial building may be included in the first phase, he adds.
The second phase of Sungate Logistics Park could feature over 2.7 million square feet of industrial space, across lots 8 through 12.
Conceptual plans show Lot 8 could feature 210,000 square feet of warehouse space, Lot 9 could feature 225,000 square feet of industrial space; and Lot 10 would feature the largest amount of industrial development in the second phase with 1.2 million square feet. Lots 11 and 12 feature up to 541,100 square feet of industrial space each, according to plans.
“Development after Phase 1 would progress in a logical fashion based on demand in the market where we would develop as we lease up buildings,” Nix said.
The property is located west of LPGA Boulevard, bounded by Old Deland Road and bisected by Fire Tower Road.
“We look forward to continuing CTO’s excellent stewardship and curation of this rapidly emerging community, both through our own developments and in partnership with best-in-class developers from across the country,” Nix said in a statement sent to GrowthSpotter.
Development is picking up in west Daytona Beach.
Conceptual plans depicted a mix of multifamily buildings, townhomes lots and single-family home lots, but company representatives neither confirmed nor denied the uses are part of plans.
Other developers active in the area include Orlando-based Avalon Park Group which bought over 3,000 acres along S.R. 40, just west of Interstate 95, next to Latitude Margaritaville, last year with plans for a large mixed-use community dubbed Avalon Park Daytona.
Conceptual plans allow for 10,000 dwelling units, 730,000 square feet of retail space and 270,000 square feet of office space. A majority of residential units would be multifamily, while the remaining will be a mix of single-family homes, townhomes and villas.
Houston, Texas-based developer Silvestri Investments is also planning a development on the Halifax River. The company owns about 6 acres along U.S. Highway 1 and plans to build a condo and townhome complex with an associated marina.