The company plans to invest $6 million in a 20,000-sf office and plant structure near Groveland, FL, 25 miles west of Downtown Orlando.County officials say PERI Formwork Systems Inc. has outgrown its 2.5-acre plant in Orlando. PERI wants to open a Southeast/Caribbean regional office at the Lake County site with 25 employees and grow the staff to 45 over several years.
The company is formally asking the Lake County Industrial Development Authority March 13 for permission to buy the land. The county commission meets March 18 to review the request. If approved, the new plant expects to break ground by July with completion anticipated by year end 2004.
The 11-year-old Lake County industrial park has shown a strong growth curve, attracting national retailers and competing fiercely with higher-price industrial complexes in Orlando, Lake brokers tell GlobeSt.com.
The park's strongest selling lever is the price of its dirt--$35,000 per acre or 80 cents per sf. Comparable Orlando land goes for $80,000 per acre to $100,000 per acre ($1.84 per sf to $2.30 per sf).
Among the 20 owners of distribution centers at the park are Circuit City with 514,000 sf on 30 acres and plans to expand the structure by 192,000 sf on an adjoining 13.1-acre pad; Goodyear Tire & Rubber Co., 294,000 sf and a staff of 37; Home Depot, 123,000 sf on 32 acres; Sprint North Supply, 182,860 sf on 20.6 acres; Domino's Pizza, 40,000 sf on 11 acres with a staff of 78; American Hotel Register, 40,000 sf on 19.87 acres; and Hi-Tech America Development Corp., 70,000 sf on 30 acres.
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