One of Greater Orlando's leading parts suppliers for construction cranes paid $1.425 million on Friday to expand locally, buying its own warehouse with direct rail access.
Located at 3001 Hansrob Road, the one-acre property lies in northwest Orlando off of Silver Star Road, with a 15,251-square-foot warehouse dating to 1967.
The buyer was Jacksonville-based Southeast Rigging, doing business locally as Orlando Rigging Supply. The company specializes in lifting, rigging and material handling products, supplying everything from chains to wire ropes, debris netting and more used for large cranes on construction sites, as well as inspection and repair services.
Orlando Rigging Supply currently operates out of a 13,000-square-foot flex-industrial space leased at 3756 Silver Star Road, part of the Silver Star Commerce Center that was bought last November by Denholtz Associates.
That lease had expired, and the new building is larger with a better layout that will help improve operational efficiencies, owner Scott Elliott told GrowthSpotter.
The company plans to relocate to the new building in September, and will begin renovation work on the new building this month.
The buyer sourced a $580,000 mortgage from Valley National Bank to help close the deal.
Orlando Rigging Supply has supplied crane materials to contractors for much of the I-4 Ultimate expansion work, and is called on most often for infrastructure site work and bridges, Elliott said.
The seller was Hansrob Company LLC, an investment vehicle for Kurt Durette, which previously paid $653,856 in 2009. Durette is the owner of local commercial electrical contractor Electric Solutions Unlimited.
Wilson McDowell of Cite Partners represented the seller.