New Office/Warehouse Slated for Apopka
A large industrial project is being proposed in Apopka.
Developer McNulty Group Inc. submitted plans for two 48,000-square-foot industrial buildings at a site at 2867 Clarcona Road. The project’s preliminary development site plan will go before the city of Apopka Development Review Committee on Aug. 25.
The industrial spaces will be designed to be divided between multiple businesses, according to project documents. McNulty Group Inc. wasn’t available for comment.
A project of that size would cost roughly $5.06 million to build, according to industry standards.
The 9.37 vacant acres that make up the site at 2860 and 2870 Clarcona Road and 476 Jellystone Ave. were bought in July 2012 by Technology Property LLC from Trading Post At Sun Resorts Inc. for $100,000, according to the Orange County Property Appraiser.
See a map of the approximate site below
Industrial interest
Apopka has seen increased demand for industrial projects. Apopka officials previously said the city has several million square feet worth of industrial space either being planned or under construction.
For example, Orlando-based McCraney Property Co. plans to develop Progress Commerce Park on 40 vacant acres south of East Fullers Cross Road, where it is planning a 480,560-square-foot speculative industrial project. The company also developed the nearby 652,696-square-foot Distribution 429.
“With demand for quality, well-located and managed industrial space severely outweighing active construction in the Northwest Orange market as of the end of 2020, we feel as though the addition of Progress Commerce Park will strike a chord with prospective tenants, bringing new-to-market businesses and, in turn, jobs to the city,” President and CEO Steven McCraney previously said.
Meanwhile, Altamonte Springs-based AdventHealth is developing a multi-phase industrial project in Apopka, as well, with up to 606,025 square feet of distribution space on 54 acres at 4051 Fudge Road.
Submarket stats
The Silver Star/Apopka industrial submarket has a 5.1% average vacancy rate, compared with the Orlando-area average of 6.3%, Cushman & Wakefield reported for second-quarter 2021.
The submarket’s warehouse/distribution average asking rental rate is $5.75 per square foot, which is lower than the Orlando-area average of $8.18 per square foot.