A new Trader Joe's distribution center planned for Daytona Beach is expected to receive about $6.6 million in economic incentives from governments and private entities.
Volusia County agreed to contribute $4.67 million of incentives for a warehouse that will service the specialty supermarket chain, which has a store in Winter Park and another planned for Sand Lake Road in Orlando. The center also will distribute groceries to stores elsewhere in Florida and the Southeast.
The state is expected to reimburse the county for up to $2.97 million in transportation costs, once proposed road improvements are completed. In addition, Daytona Beach contributed $1.99 million to the project.
The center is expected to generate about 450 jobs with an average annual wage of $28,222. Even though those wages are not as high as those of technology and health-care jobs, Daytona Beach Economic Development Director Emory Counts said the warehouse "primes the pump" for more job growth in the region. And the jobs offer opportunities for a large number of local residents, he added.
The grocery retailer recently purchased a 76-acre site for a distribution center east of Interstate 95 in Daytona Beach for $7.8 million from Consolidated-Tomoka Land Co. The seller will spend about $2.1 million to prepare a pad site for vertical construction. The land firm received $400,000 from the CEO Business Alliance, a private economic-development group in Daytona Beach, to assist with those costs. Of the incentives awarded to the project, Consolidated-Tomoka expects to receive about $1.1 million from Volusia County for construction costs.
Homebuilder Taylor Morrison recently closed on 98 acres in a $9 million transaction to build Cypress Reserve in west Orange County. Located on Avalon Road, a mile south of State Road 50, Cypress Reserve features 155 home sites and will open for sale in late summer 2015.
NAI Realvest negotiated the $1.01 million sale of an office building with 16,000 square feet at 1920 Boothe Circle, Longwood. Michael Heidrich, principal at the firm, and associate Kristen Kemp represented the seller, Red Boothe Circle Holdings LLC in Newport Beach, Calif. SFG Properties LLC of Longwood purchased the 17-year-old office building, which was 66 percent occupied at the time of the sale.
Chris Travis, Ray Turchi and Brian Capo, of Marcus & Millichap's Orlando office, represented the seller in the $1.5 million sale of La Cambre Shopping Center, with 9,940 square feet in St. Cloud. The buyer was represented by Chris Travis, Ray Turchi and Brian Capo.
Longwood-based Comprehensive Energy Services Inc. started more than $1.1 million of heating, ventilation, air conditioning and plumbing work at several medical facilities. It had a $1 million contract for work at Advanced Surgery Center, 652 Palm Springs Drive, Altamonte Springs, under DM Constructors. In addition, it worked directly for Florida Hospital on its Orlando administrative offices and Children's Kidney Center.
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