By Jack Witthaus, Staff Writer, Orlando Business Journal
A Dallas developer has a larger vision for its site between Lake Nona and the University of Central Florida — which translates to more job creation.
Dalfen Industrial LLC now wants to build nearly 3.4 million square feet of industrial space — up from the previously planned 2.8 million — southeast of Lee Vista Boulevard and State Road 417, city of Orlando documents showed. The Vista Commerce Park project is slated to go before the Orlando City Council for approval on Aug. 10.
Tyler McElroy, manager of development and construction at Dalfen Industrial, was unavailable for comment. However, once built, the speculative business park will accommodate users between 500,000-1.5 million square feet, something that’s set to help address demand for industrial space in the area.
Cushman & Wakefield PLC’s (NYSE: CWK) Jared Bonshire, David Perez and Taylor Zambito are the leasing representatives. “Dalfen Industrial is satisfying a strong need in Orlando, as there are a limited number of development projects in our market geared toward bulk users,” Bonshire previously said.
It’s not known if a general contractor, architect and engineer have been selected for this project. Orlando-based Lowndes shareholder Jonathan Huels — who is representing Dalfen in seeking city approval — was unavailable for comment.
A project cost wasn’t revealed, but construction may amount to roughly $221 million, based on industry standards. New construction is an important economic driver, creating both full-time and temporary jobs and demands for services, homes and more to support those jobs.
Dalfen’s Dal-Bm Orlando Land Holdings LP has owned the site since December, when it bought the roughly 243 vacant acres for $15.5 million, or about $63,786 an acre, from Bal Bay Realty Ltd., Orange County records showed.