Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORLANDO-Gambling that small companies would need small bay warehouses to store and distribute their products in a tight national economy, three local developers created Monroe CommerCenter South in suburban Sanford, FL last year. Today, that gamble is paying off.

The developers are George D. Livingston, president, NAI Realvest Partners in Maitland, FL; Geof Longstaff, senior vice president, NAI Realvest; and Howard Shieferdecker, president of his own development firm.

“We positioned our CommerCenters to rise with the recovering economy,” says Longstaff, a former Orlando banker. “We view the strong (leasing) response as a reflection of the economic recovery, so our good news is also good news for the Central Florida economy.”

The developers’ company, Small Bay Partners LLC, plans to break ground this month on the second 58,840-sf, $2.1-million phase of their venture after strong tenant demand brought the first 57,340-sf phase to 80% occupancy in the last three months. A total 10,000 sf in the second phase is already pre-leased.

The partners have contracted to buy 4.56 adjacent acres where a third, 56,400-sf phase will be developed in first quarter 2004. When completed, Monroe CommerCenter South will have a total 172,580 sf of small bay space.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.