The development plans were jumpstarted by a $3.9-million land sale, with Fort Lauderdale-based Abdo & Burts Development as the buyer. Carter and CNL Financial Group were the sellers. The sale represents $6.15 per sf. The buyer was represented by CB Richard Ellis senior associate Ray Romano and the sellers was represented by Carter Real Estate senior vice president Scott Bell and senior associate Todd Davis.

Phase I will consist of 50,000 sf in a single-story building on nearly 4.4 acres. Phase II will consist of 75,000 sf in a single-story building on 7.2 acres. There are also two 1.5-acre parcels that will be used for office or retail development in a future, third phase. Units will range in size from 900 sf and larger. The price for 897 sf of finished space is $249,366 and for 1,082 sf of finished space is $297,550.

Romano, who will be handlings sales and marketing of the units, tells GlobeSt.com that he expects to have a few contracts for sales in place by the end of the week. Among aspects of the project that makes it attractive to buyers is its East Orlando location. The area is densely developed with residential and retail properties. The spaces are designed for small business owners, doctors, dentists and others whose businesses do not require a Downtown Orlando location. "These spaces are designed for people who do not necessarily need to be Downtown. These are business owners who want to be close to where they live or where their clients are located," Romano says.