Developer Brett Kingstone appears to have been in the right place at the right time, buying 18.5 acres across from Orlando International Airport just as the airport is undergoing major expansion.
Kingstone, president of Max King Holding Company LLC of Orlando, sees at least one of the four industrial buildings he plans for the site being used by contractors that will be working at the airport, either on the $470 million people mover/rail depot project that is already under way or the $1.8 billion south terminal that was approved Wednesday.
"I'm already getting indications of interest from contractors" that are putting out feelers for their space needs should they get a part of the south airport projects, Kingstone said.
In early February Kingstone bought the parcel, dubbed Airport Acres, for $1.1 million from Euro American Partners. The site is located just across from State Road 528 and already has tenants slated for its first two buildings.
Kingstone said he has site plan approval from the City of Orlando and still must submit construction drawings to receive final approval. He envisions the first two buildings starting in the next 60 to 90 days and being finished in January or February of 2016.
Planned is a third, 25,000-square-foot building. A fourth site will range in size from 35,000 square feet to 50,000 square feet, depending on wetland issues.
Kingstone estimates construction costs to be about $12 million.
The project will be Kingstone's 25th in the Orlando area and his largest in square footage. He happened on the parcel while out for a jog one morning. "I regularly wander around the office parks where I own properties to see what is available," he said.
In this case, Kingstone had passed the parcel, which was outside the office park, a number of times before. This time he decided to call the phone number on the billboard that stood inside the property.
"I saw it as a spectacular property with some challenging engineering issues," including the need to elevate portions to be above the flood plain, Kingstone said. "But it's going to be terrific once it's complete."
Kingstone is using all Orlando outfits for professional services. They are:
Contractor: M Paul General Contractors
Architect: Scott + Cormia Architects