The parent company of Ripley Entertainment Inc. is building a 240,000-square-foot office complex on land the company bought three years ago on S. John Young Parkway.
Jim Pattison Group is currently in for building permits for the first of two 120,000-square-foot office buildings. Ripley's Spokeswoman Suzanne Smagala-Potts told GrowthSpotter the Beachline Commerce Park will not be the long-rumored headquarters site for the entertainment company.
She said Pattison has engaged JLL's John Gilbert and Darryl Hoffman to market the property to prospective tenants. They're currently negotiating with multiple tenants for the first building with a NNN rate of $20/square foot.
"This will be a new, Class A product with a 40,000-square-foot floorplate," Gilbert said. "We're looking at delivering the first building in November 2019. Once we've stabilized it, we'll break ground on the second building."
The second phase could be expedited if a user needs more than 120,000 square feet, he said.
Pattison Group paid $3.3 million for the vacant, industrial-zoned parcel land at the southeast corner of the Commerce Park Drive-S. John Young Parkway intersection, roughly 2.5 miles from the Orange County Convention Center.
The company received a mass grading permit from Orange County last year to prep the site for development, and that work is now completed.
Smagala-Potts declined to comment on the company's plans for its 40-plus acres in the heart of Orlando's tourism corridor, but the decision not to locate any Pattison or Ripley offices at Beachline fuels further speculation that it would locate an expanded headquarters office there.
Ripley Entertainment's headquarters and archives currently occupy 40,000 square feet of leased space in an industrial park at 7576 Kingspointe Parkway. It's located just east of Tangelo Park and north of W. Sand Lake Road, about three miles northwest of the newly-purchased property.
In the last two years Ripley's has assembled more than 40 acres on Universal Boulevard adjacent to Topgolf and Andretti Indoor Karting & Games.
The company also has been tight-lipped about its plans in the tourism corridor, but insiders project the site could accommodate a variety of attractions, hotels and retail uses as well as corporate offices.
Ripley Entertainment operates 95 attractions under a dozen brands around the world, which include Believe It or Not! Odditoriums, aquariums and Guinness World Records museums.