Orlando commercial real estate attorney John K. Keating earned approval Tuesday night from the city of Clermont to build up to 125,000 square feet of mixed commercial and industrial flex space.
Keating has owned the 21.53-acre project site on Hancock Road, east of the Greater Pines subdivision, since 2004 and figured market conditions are right now for this type of development.
"I think there is a dearth of flex industrial space in the Clermont market, as most brokers I talked to indicated," he told GrowthSpotter. "We thought it was appropriate to bring a product like this to market."
The land is immediately north of a soon-to-be-developed, 18-acre Clermont Public Works site. The project will share an entry road and drainage system with the public works facility, and Keating is coordinating with the city on site development for both projects.
The commercial/industrial project will consist of six buildings, ranging in size from 14,175 to 24,300 square feet. Two buildings facing Hancock Avenue will likely be best suited for retail-commercial shops, Keating said. The buildings in the back will all have roll-up doors and be suitable for electrical, plumbing and other contractor or subcontractor businesses.
Keating will also have up to 5 acres of storage area available to tenants, an amenity he said is always in demand.
"That's really going to be a big plus for the development," he said. "We think storage is hard to come by for tenants of this kind of product."
Much of the storage area is on a Duke Power easement, but the electric company's managers have indicated they will allow it to be used for storage with some limitations, such as little or no vertical construction. The area will likely be paved or graded and covered with crushed rock, Keating said.
Keating will be interviewing general contractors in coming weeks. He hasn't decided whether the project will be done in phases or all at once.
He estimated the entire buildout could take up to a year, and would hire a commercial brokerage firm to market for lease at some point during construction.
"I think Clermont has been very welcoming and excited about bringing this type of project and product to businesses in the Clermont area," said Keating, who has been a practicing attorney in Orlando for more than 30 years.