343,811 Square Feet Underway in Master-Planned Business Park in Osceola County
Kissimmee, Fla. (August 10, 2021) – As the industrial asset class shows no signs of slowing, Chicago-based First Industrial Realty Trust, Inc. recently announced the construction start on a 343,811 square-foot Class-A industrial park along the Orange and Osceola County border in Kissimmee, Florida. Foundry Commercial will provide leasing services for the development.
Located at the intersections of North John Young Parkway and Regatta Bay Boulevard in the Loop/Tupperware submarket, First Loop Logistics Park represents the first Orlando-area development for First Industrial, a leading owner, operator, and developer of industrial real estate with approximately 5.7 million square feet of logistics properties currently under development across the nation’s top markets.
“First Loop Logistics Park is well-positioned to serve a wide range of businesses looking for a well-located, infill location that also has access to several nearby amenities,” said Chris Willson, Executive Director of First Industrial Realty Trust. “We are excited to be adding four quality buildings to our portfolio and will continue to explore new investment opportunities in order to expand our presence in the Central and South Florida markets.”
Comprised of four distinct dock-high warehouse buildings, First Loop Logistics Park is expected to be delivered in summer 2022. The buildings, all rear-load, range in size from 71,337 square feet to 106,943 square feet. Located adjacent to the popular Loop retail development along Osceola Parkway, the park is well-suited to industrial users looking for convenient access to major thoroughfares and access points.
“With only a select few active industrial developments occurring in Osceola County, one of the fastest-growing counties in the country, we’re thrilled to be teaming up with First Industrial to provide leasing services for First Loop Logistics Park,” stated Justin Ruby, SIOR, CCIM, Principal with Foundry Commercial. “Situated in an infill location, with plenty of access to both available labor and primary roadways, First Loop Logistics Park offers the flexible design and efficiency options sure to appeal to a variety of companies.”
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, First Industrial’s local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, FR owns and has under development approximately 66.9 million square feet of industrial space as of June 30, 2021. First Industrial has 2.0 million square feet of space total in South Florida and the Orlando markets. In addition to First Loop Logistics Park, First Industrial is also developing the fully-leased 141,000 square-foot First 95 Distribution Center in Pompano and has four buildings totaling 800,000 square feet currently underway at First Park Miami in Medley. For more information, visit www.firstindustrial.com.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 400 employees and more than 60 million square feet of management and leasing across the Sun Belt. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services, and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than $1.5 billion in advantaged investment opportunities with their JV partners. For more information, visit www.foundrycommercial.com.