Summit Real Estate Group is pleased to announce that it has closed on a 22.2 acre assemblage in Apopka, FL, just north of Orlando. Acquired on behalf of Summit’s Arrowrock US Industrial Fund IV, the ground-up industrial development project will be known as 451 Commerce Park and include two multi-tenant warehouse buildings representing ±260,000 square feet in total.
451 Commerce Park will be located in Apopka, FL, in Orlando’s Northwest Orange County submarket. The site fronts SR 451 which connects into SR 429 to the south (3 miles). 451 Commerce Park represents Summit’s second multi-building project in Apopka, FL as it follows Crossroads 429 Industrial Park, less than 3 miles to west, which is scheduled for delivery December 2022.
The Northwest Orange County submarket has grown substantially over the past five years due largely to the northward expansion of the local highway system, specifically SR 429. This highway system connects Apopka and other western Orlando communities to the region’s major transportation network providing the submarket faster and less congested access to the greater Orlando MSA relative to south Orlando. SR 429’s further expansion, linking Apopka to far north communities, is underway and expected to be completed in 2023.
The 32’ clear Class ‘A’ real load warehouse buildings will have depths of 225’ and 170’ truck courts that include trailer spaces. Summit anticipates starting construction Q1 2023 and delivering the buildings Q4 2023.