A Class A industrial building in Orlando marks the company’s first project in the market.
Venture One Real Estate has acquired a 16.7-acre development site in Orlando, Fla. The purchase marks the company’s entry into the Florida market.
Venture Park Beachline, a Class A industrial building with 220,871 square feet of space, is planned to be developed on the site. Construction is set to begin in the third quarter of 2023.
The land is located at 7650 Amsterdam Drive, off of the Beachline Expressway. The Orlando International Airport is accessible to the west of the property, while Interstate 95 is to the east. Downtown Orlando is some 30 minutes northwest of Venture Park Beachline.
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The purchased site is in a well-located and expanding area. Industrial demand in Orlando continues to be greater than the supply, according to a recent Cushman & Wakefield report. In the third quarter of this year, some 650,000 square feet of industrial space hit the market, 27.4 percent of which was preleased. The overall average for rental rates hit a historic high at $9.47 per square foot.
Venture One plans to open a new office in South Florida. It has promoted Kyle Grant to head up the area. The company plans to continue its expansion in the Midwest and Northeast as well, recently breaking ground on Venture Park 47 in Chicago.
Cushman & Wakefield’s Jared Bonshire, David Perez, Taylor Zambito and Sara Bravo will market Venture Park Beachline for lease.
