Ambrose announces new Florida projects in key markets
Developer announces new projects in Orlando, Fort Myers and completion of modern, Class A warehouse in West Palm Beach
Ambrose Property Group announced plans today for two new industrial parks in Orlando and Fort Myers and the completion of a new warehouse in West Palm Beach to meet growing demand for industrial, logistics and e-commerce space across Central and South Florida.
Orlando Logistics Park at LeeVista is a 71-acre Class A industrial park located just north of the Orlando International Airport near the intersection of SR 528 and S. Goldenrod Road. Development began in early May on two of the three planned buildings. Building I will be 103,000 square feet and can be demised to accommodate tenant requirements as low as 25,000 square feet. Building II will be 350,000 square feet, targeting users that require 175,000 square feet or more for their operations. Both buildings will seek LEED (Leadership in Energy and Environmental Design) certification through the U.S. Green Building Council. They will be available for tenant fixturing in Q4 2024.
The general contractor for the buildings is ARCO Design/Build. Design partners are C4 Architecture and Kimley-Horn. The Orlando office of JLL will handle marketing and leasing for the park. Ambrose has partnered with Principal Asset Management on the construction loan. The combined initial investment in the project is estimated to be $78 million.
The location of Orlando Logistics Park at LeeVista offers users a logistical advantage through direct access across central and Southeast Florida via SR 528 and Florida’s Turnpike. Additionally, the nearby Orlando International Airport features several cargo lines, including DHL Aviation, FedEx and UPS, to support industrial, logistics, e-commerce, cold storage or light manufacturing operations. Ambrose is partnering with FamLee Investment Company on the development.
“We are excited to grow Ambrose’s Florida portfolio with Orlando Logistics Park at LeeVista,” said Ambrose Vice President of Development and Florida Market Officer Dave Loudenslager. “Central and South Florida offer ample opportunities as demand for logistics and e-commerce continues to be strong. This development represents Ambrose’s commitment to offering solutions that satisfy industry and supply chain needs throughout the state of Florida.”
Alico ITEC Logistics Park is a 25-acre Class A industrial park comprised of two state-of-the-art buildings located in Fort Myers just south of the Southwest Florida International airport off the I-75 Alico Road exit. Ambrose has partnered with South-Florida based Helms Development for development of the park. Construction began in April on the 195,000-square-foot Building I and 185,000-square-foot Building II. Both buildings will seek LEED certification and will be ready for tenant fixturing by Q1 2025. The buildings are designed for bulk distribution and local and regional distribution.
The general contractor is Hernandez Construction, the architect is HNM Architecture and Lee & Associates will handle marketing and leasing for the park. Ambrose has partnered with Wintrust Bank on the construction loan. The initial investment in the park is estimated to be $62 million. This is Ambrose’s second development with Helms Development. The two firms previously partnered together on Palm Beach Park of Commerce located in West Palm Beach.
“We look forward to continuing a successful partnership between Helms Development and Ambrose in the Ft. Myers market,” said Scott Helms, principal for Helms Development. “The park will provide quality Class A logistics properties in a Southwest market where there are extremely low vacancy rates and growing demand.”
Ambrose and Helms are also excited to announce the completion of the co-developed 246,000-square-foot Class A, modern warehouse at Palm Beach Park of Commerce. The building offers a 32’ clear height, 251 auto parking spaces, 71 trailer parking spaces, 54 docks and two drive-in doors. It is currently seeking LEED certification.
Located off Beeline Highway, the 17-acre site provides easy access to the region’s extensive transportation network, including air and seaports, plus access to direct rail service with a link to the port of Palm Beach. The building is available now for lease.
Hernandez Construction served as general contractor on the project. The architect was Horton, Harley & Carter, Inc. (HCC), and Colliers International is handling marketing and leasing. The initial investment in the project was approximately $45 million.