Growing Jacksonville-based real estate firm plans new office building near Lake Nona

Plans call for a roughly 8,740-square-foot office building on a one-acre parcel lies east of the Narcoossee and Boggy Creek roads intersection.

Jacksonville-based Watson Realty Corp. is looking to build a new office building that it plans to occupy just north of the Orange-Osceola county line in southeast Lake Nona.

According to an application filed in the South Florida Water Management District, plans call for a roughly 8,740-square-foot office building.


The one-acre parcel lies east of the Narcoossee and Boggy Creek roads intersection, roughly a mile south of the heart of Tavistock Development Company's master-planned Lake Nona community.

Regional Vice President of Watson Realty Corp., Jeffrey M Fagan, told GrowthSpotter the firm plans to break ground in the next coming weeks.


Watson Realty Corp. will occupy 60 percent of the building, and either lease or use the remaining space for events. The new office would mark the company's 54th location in Florida.

Fagan said construction costs range between $2 million to $2.25 million to build.

"There's growth coming," Fagan said pointing to the massive Sunbridge development to the east and south of the property. "We're excited about that and the opportunity to be part of it all."

Watson Realty Corp. paid $825,000 for the property in Oct. 2017 from Boggy Creek Narcoossee LLC, an entity tied to Palm Beach Gardens-based Ram Realty Services.

That same year, Ram Realty sold the surrounding roughly 10 acres of land with direct frontage on Narcoossee and Boggy Creek roads for $3.05 million to Futura Development Company.

The land is set back from the northwest side of that intersection, behind a recently built Wawa and McDonald's, where Futura is planning a mixed-use neighborhood retail center.

Northwest of the property, Pulte Homes is developing the 1,800-acre Poitras property, and to the north developer Emerson International is building a 1,200-acre master-planned community called Eagle Creek that's poised to bring 3,000 residential units surrounding a championship 18-hole golf course.

Plans also allow for up to 150,000 square feet of retail, 50,000 square feet of office and a hotel development. Just last week, Emerson filed a Preliminary Review Item in Orange County, to discuss bringing a 168-key dual-branded Hilton hotel at the master-planned community.


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