CalEast Global Logistics L.L.C. and Florida CommerCenters are teaming up to develop industrial warehouses, distribution centers and flex-space throughout central and northeast Florida.Rebecca York, president of Florida CommerCenters in Orlando, declined to release the dollar amount of the joint venture with CalEast but said the company would be Florida CommerCenters\u2019 \u201cprimary and preferred partner\u201d for developing industrial properties. Florida CommerCenters, an affiliate of NAI Realvest in Orlando, was formed in February as a commercial real estate development group to seek out and build industrial opportunities in the state. York told CPN today the regions both the firm and the joint venture will focus on are counties in central Florida and along the eastern coast up to Jacksonville. She said they would not be looking at south Florida. \u201cDemand for well-suited industrial and office-warehouse facilities is high throughout Florida as commercial development catches up to years of strong residential and retail growth,\u201d George Livingston, Florida CommerCenters CEO, said in a release. \u201cWe foresee increasing long-term demand for industrial and office-warehouse facilities in select Florida markets and this niche field represents a substantial opportunity for us.\u201dYork said NAI Realvest, which has developed more than 1 million square feet of industrial and flex space in central Florida, has previously worked with CalEast Global Logistics, but this is the first formal joint venture between the firms. CalEast Global Logistics is a real estate operating company whose members include the California Public Employees Retirement System (CalPERS) and LaSalle Investment Management Inc. CalEast owns and operates more than 47 million square feet of industrial real estate, including warehouses, light assembly, air cargo and distribution centers throughout the United States, Canada and Europe.\u201cThis is a great opportunity for us to help them increase their market presence,\u201d York said.York said it was still too early to release possible sites for projects but that there are, \u201cseveral opportunities that we\u2019re really excited about bringing to our partner.\u201dShe said the current economic slowdown might help the companies find landowners willing to sell property at \u201cmore rational prices.\u201d York noted that there isn\u2019t an oversupply of industrial properties in the region, so demand should continue, particularly by the time the properties are developed one or more years from now.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
CalEast Global Logistics L.L.C. and Florida CommerCenters are teaming up to develop industrial warehouses, distribution centers and flex-space throughout central and northeast Florida.Rebecca York, president of Florida CommerCenters in Orlando, declined to release the dollar amount of the joint venture with CalEast but said the company would be Florida CommerCenters\u2019 \u201cprimary and preferred partner\u201d for…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003794196","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n