SORRENTO, FL-Jim Croson, long-time owner-operator of J.A. Croson LLC, an Orlando-based regional plumbing and mechanical contracting firm, has acquired a shuttered, 15-year-old, 55,000-sf newspaper printing plant, a 15,000-sf auxiliary building and 9.5 acres in Lake County for $2.45 million from Orlando Sentinel Communications Inc.
Croson couldn't be reached by GlobeSt.com's publication deadline. But subcontractors who have worked with him tell GlobeSt.com the acquired property will probably be used as a storage and prefabrication facility. The property is at 31550 Country Rd. 537 in rural Sorrento, about 20 miles northwest of Downtown Orlando.
Croson owns another storage location on State Road 46 where Neocomm Inc., a subsidiary of Orlando Sentinel Communications, used the printing plant from 1990 to 2004 to print commercial advertising inserts, circulars and weekly television guides for other newspapers. Neocomm continues to own 3.3 acres along State Road 46. There are no development plans for that land, according to Neocomm's parent.
The total square footage of the property purchased by Croson is 483,820 sf which equates to an acquisition price of about $5.06 per sf, area industrial brokers who work the Lake County area tell GlobeSt.com. Based on the 9.5-acres alone, the purchase price equates to $257,895 per acre or about $5.92 per sf.
Orlando Sentinel Communications closed the 62-worker plant in June 2004 after reporting continued financial losses from operations, the Orlando Sentinel reported at that time. Orlando Sentinel Communications publishes the Orlando Sentinel daily newspaper from a printing and distribution plant at its Downtown headquarters site. The company had owned the 9.5 acres in Sorrento and 3.3 acres along State Road 46 since 1989.
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