X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CLERMONT, FL-As medical-office developments go, the six-building, 43,000-sf, $7 million Florida Executive Center going up in this Orlando bedroom community isn’t a record-breaker on size and total cost, but it ranks high on tenant demand.

Five of the six buildings are sold. The fast-track, four-month project isn’t expected to be completed until January at a class A development cost of $163 per sf. Most comparable structures have been put up for less in the past, generally under $100 per sf, construction industry estimators tell GlobeSt.com.

Local developers Dan Hessburg and Ron Carlson, president of Carlson Commercial Builders, are confident their original spec venture will be a sellout before they receive their city-authorized certificate of occupancy.

Location is the key to the project’s success. The complex sit across from the Kash n’ Karry supermarket and the new South Lake Hospital on State Road 50 and Citrus Towers Boulevard, the hottest commercial development hub in the area, 25 miles west of Downtown Orlando.

The developers couldn’t be reached for comment at GlobeSt.com’s publication deadline but a subcontractor working with them tells GlobeSt. Com, “They had the project almost sold out before the drawings were dry.”

Expensive equipment is planned for the offices. For example, Aziz-Toppino’s Eye Specialists of Florida office will be working with an estimated $1 million worth of laser and optical products when it opens in a 6,000-sf building.

Other occupants waiting to move into separate buildings are Dr. Paul Sorchy, a Clermont chiropractor, 12,000-sf; Dr. David Misch, a retinal surgeon, 6,000-sf; and pediatricians Drs. Shahid and Shaista Usmani, 7,000 sf. A 12,000-sf building remains to be sold.

Florida Executive Center is the second medical-office enterprise started in this south Lake County city of 17,000 permanent residents in the past two months.

Local builder and Bob Thompson and Clermont dermatologist Dr. David Allyn are constructing a four-building, 110,000-sf campus on the east side of the nearby Citrus Tower attraction at an estimated cost of $16 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.