Excerpted from Orlando Business Journal story.
A Dallas developer expects to break ground in March on the redevelopment of an aging industrial site near the Mall at Millenia in Orlando.
Lincoln Property Co. aims to raze the site’s 13 buildings totaling 420,000 square feet — which were built between 1972-1998 — and construct two new structures with a combined 405,000 square feet of Class A industrial space. The site at 2001 W. Oak Ridge Road, located northwest of Rio Grande Avenue, is surrounded by single-family homes.
The move to replace the existing dated buildings is a good idea, as they likely don’t conform to the needs of potential industrial tenants, said Larry Kahn, senior director industrial with Tampa-based Franklin Street, who isn’t involved with the deal. “It makes sense to scrap it and do what they’re going do.”