"Every industrial broker in town has been trying to get the listing on this site for years" because "it is the only infill site remaining in Orlando Central Park," CBRE first vice president David J. Murphy tells GlobeSt.com. The parcel is at the southeast corner of John Young Parkway and Presidents Drive.
FMC is open to offers on the land. The deadline for submitting an offer is Feb. 22. Area industrial brokers and consultants tell GlobeSt.com the dirt will go for at least $200,000 per acre ($4.59 per sf) or about $4 million. "Due to the intense demand for this site, we felt the best way to structure a sale would be to request a call for offers on the property," Murphy says.
"Industrial land prices for good sites are now north of $150,000 per acre in south Orlando, and land along John Young Parkway, south of Sand Lake Road, has been selling for $200,000 per acre and higher," Murphy says. The 20 acres have 1,750 feet of frontage along John Young Parkway, a major artery in south Orlando.
FMC Corp. purchased the site in 1980 and held it for future expansion. The company now has decided it no longer needs the land. The dirt is the only large developable site in Orlando Central Park and is one of the last large industrial tracts remaining in Orange County, Murphy tells GlobeSt.com. "We have spent the last few months with site engineers, preparing the property for sale."
CBRE won the listing "due to a corporate relationship" the brokerage has with FMC and "my experience with large disposition assignments," Murphy adds.
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