Onicx Group and Aries Capital's acquired 83 acres of industrial land in Edgewater, FL, where they will develop the Space Coast Industrial Park at Parktowne. Onicx Group and Aries Capital, which both have offices in Miami closed on the land for $4.15 million.
The 1 million-square-foot Class A warehouse facility will cater to the underserved demand for industrial facilities in Volusia County, driven by the robust growth of the space vehicle launch industry along Florida's Space Coast.
Phase I consists of two buildings totaling 309,500 square feet. Building 1, which is 133,500 square feet, is slated to break ground in Q1 2023 with Building 2, consisting of 176,000 square feet, to follow thereafter. Anticipated completion of Phase I is Q1 2025.
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