A developer is looking to rezone residential land near the Orlando-Sanford International Airport in order to build more than 560,000 square feet of warehouse space.
Abbas Abdulhussein, the developer behind the Hard Rock Hotel in Daytona Beach who leads a number of development and investment companies, has submitted plans to the city of Sanford for an industrial park on 58 acres at the northeast intersection of East Lake Mary Boulevard and Mellonville Avenue.
The vacant property, just south of Lake Silver, is flanked to the west and south by a cluster of manufacturing plants, while single-family homes with large lots dot the surrounding landscape to the north and east.
Abdulhussein assembled the parcels between 1998 and 2007 for a total of $2.8 million, property records show.
The five parcels are currently zoned for low to medium-density single-family development. A request to change the land use and zoning to industrial is set to go before the city’s planning and zoning commission on Sept. 1.
Abdulhussein, who leads a number of entities, according to the Florida Division of Corporations, could not be reached for comment. While he’s using an entity titled Mellonville Holdings LLC for this project, his largest recent effort in Central Florida came as a managing member of Summit Hospitality when he led the $40 million renovation of the long-deserted Desert Inn in Daytona Beach into an oceanfront Hard Rock Hotel.
For the industrial park project just south of the Orlando Sanford airport, site plans submitted to the city by engineering firm Kimley-Horn show five warehouse buildings arranged in a horseshoe shape. The warehouses range in size from 29,500 square feet to 202,000 square feet. The other buildings measure 63,500 square feet, 101,700 square feet and 167,700 square feet.
That totals 564,600 square feet.
Enough parking will be created to hold 812 cars and 33 trailers, site plans show. The warehouses are slated to be set back 85 feet from Lake Mary (the front) , 83 feet from Ohio Avenue (the east side) and 60 feet from Mellonville Avenue (the west side.) The rear of the buildings will be set back 130 feet from the nearest residential property, according to site plans.
According to a second-quarter 2022 industrial report by Cushman & Wakefield, overall industrial-using employment grew by 17,100 new jobs over the last twelve months with trade, transportation & Utilities up 19,300 jobs and manufacturing adding another 3,400 new positions during that timeframe.
But with a vacancy rate at 4.3 %, demand for warehouse space continues to outpace supply, according to the report. In West Orange County, for example, all of the warehouse/ distribution space is leased out.
Decreased supply and heightened demand for warehouse/distribution space allowed landlords to raise asking rates to $7.89 per square foot, a 16% YOY increase.
“Rents should continue to increase through the year as new construction delivers, adding premium rents to the market,” the report says.
During the second quarter, construction was underway on over 4.5 million square feet of industrial space, according to the report.
Of that total, 220,300 square feet of warehouse space was being built in the Lake Mary/ Sanford submarket.