xml:space="preserve">
Rendering of a three-story U-Haul full-service moving and self-storage facility, which the company is currently building on Narcoossee Road, with plans in review for a second-phase truck maintenance facility.
Rendering of a three-story U-Haul full-service moving and self-storage facility, which the company is currently building on Narcoossee Road, with plans in review for a second-phase truck maintenance facility. (U-Haul International)

U-Haul International is preparing plans for a new truck maintenance facility next to its flagship moving and self-storage center now under construction near Orlando International Airport, drawn to population growth in the Lake Nona community.

Located at 7800 Narcoossee Road, the 10.2-acre parcel lies directly north of used car dealer Off Lease Only's property where expansion is underwayU-Haul Co of Florida paid $1.65 million for the site in December 2014.

Advertisement

Construction is currently underway by Abrams Construction on the project's first phase: a three-story moving service and self-storage building, with 88,000 square feet of rentable area. It is an estimated four months from completion, owner's representative Rod Baldwin told GrowthSpotter.

Insight on the macroeconomic factors driving growth in 2018 for this niche segment of commercial real estate.

Phase 2 on the property includes a repair and maintenance facility for U-Haul trucks. Construction plans are still under review by Orange County, with the work estimated at $4 million. General contractor bids for that phase are currently being fielded, Baldwin said.

Concurrently, U-Haul is filing a request to annex the property into the city of Orlando for sewer connectivity.

Population growth in Lake Nona drew the company to invest now, based on proprietary research that do-it-yourself moving and self-storage options were lacking in close proximity to that submarket, said Miguel Caminos, president for U-Haul in Orlando.

"We are investing in Orlando and the future of Lake Nona," Caminos said via e-mail. "Being close to Orlando International Airport is important for our business. Air travel is part of the moving business and we want to be accommodating."

U-Haul plans to position the new facility as a flagship store. Services will include truck and trailer sharing, professional hitch installation, U-Box portable moving and self-storage containers, climate-controlled storage and more.

Insight on the growth plans for one of the region's largest used car dealerships by sales volume, and neighboring land owners it will impact.

Winter Springs-based American Civil Engineering is leading the annexation application process.

The U-Haul property lies 2.3 miles south of another new self-storage facility on S. Goldenrod Road for which plans were filed in March, meant to serve the Lee Vista and airport submarkets.

Population growth is propelling Orlando's self-storage market. Orange County added the second most new residents in the state after Hillsborough in 2017, and the Orlando-Kissimmee-Sanford metropolitan area ranked No. 8 in the nation, according to new annual U.S. Census data the Orlando Sentinel reported on March 22.

Editor's Note: This article was updated to correct U-Haul's status of active construction on the Phase 1 building on the property, and clarify pending permits are related to the Phase 2 truck maintenance facility.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Advertisement
Advertisement
Advertisement