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Show Systems
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32819 Orlando -
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Equipment Repair Solutions, Inc.
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Interstate Holdings
- 1307 S International Pkwy
- Lake Mary, Florida
- 32746-1413
- Phone: 407.444.4966
- Website
Website Links
Description
Interstate Holdings, LLC acquired the subject property on a short term sale/leaseback from Auto Parts City, Incorporated in December 2007. The property consists of 15.5 acres and includes two equipment storage/maintenance facilities totaling 45,000 SF. The properties original use and design was as an equipment maintenance compound, today however it is a staging area for an auto salvage business. Given the properties age and current/former use, the site and buildings are in disrepair. The partnership will make significant improvements to the outside storage/parking surface and buildings. This will make the property more attractive to potential users and capitalize on the uniqueness of the large land site and heavy zoning in order to secure a heavier industrial user or multiple users. Auto Parts City continues to lease back a portion of the site and has reduced its rental area to a size that will allow the improvements to begin Summer 2009 with space available for delivery by Fall 2009. Interstate Holdings, LLC acquired the subject property in February 2007 from Ashland Chemical Company. The facility, a high hazard chemical distribution center with heavy industrial zoning included a 33,000 square foot warehouse, a large tank farm and several acres of outside. Interstate Holdings acquired the surplus asset 100% vacant and upon closing, immediately commenced a significant redevelopment and repositioning of the property. The strategy was to make generic improvements to the property that would enhance its utility for non-chemical users of heavier industrial facilities with extra land, such as transportation and construction users, while continuing to target chemical users. In September 2007 the partnership completed a 10-year Triple Net Lease with Dayton Superior, Incorporated ( www.daytonsuperior.com ), a leading manufacturer and distributor of specialty building products. The facility will be occupied by the company’s concrete forming subsidiary, SYMONS.