A local company that developed and patented shipping pallets made of corrugated cardboard has sold its Apopka warehouse for $1.48 million.
Design Pallets Inc. had owned the 36,000-square-foot warehouse at 2585 Clark St. since 2010. The company manufactured the lightweight pallets, which are recyclable and reduce shipping costs, under the brand name Loadek.
The company sold the business a few years ago and no longer needed the Clark Street warehouse, according to CEP Advisors broker David Lundberg.
Last summer, Design Pallets turned to Ten X Commercial, an online auction house, to sell the property. Officials with Ten X told GrowthSpotter the high bid was $1.2 million, but the deal fell through.
"The bid price was below their minimum-acceptible price," Lundberg said. "The auction site, I think, specializes in single-family home sales. Industrial space is not really in their sweet spot."
The warehouse was built in 1998 and sits on 2.5 acres in the Orange County Industrial Park.