Industrial park poised to break ground
Cape Coral is in desperate need of commercial industrial space, and a developer says his company is prepared to fill that niche.
Randy Krise, CEO of Kismet Industrial Park, LLC, plans to break ground on a 270,000- square-foot industrial development bearing that name on 25 acres of entitled property on Littleton Road, just north of Diplomat Parkway, bounded by Corbett Road to the east and Northeast 24th Avenue to the west.
Krise said he hopes to have the plans together and break ground in the first quarter of 2017. Once the infrastructure is in place, he can start selling lots.
Everbank sold the property, which had been “entitled” with nearly every approval necessary for the previous owners to begin construction. The city put water and sewer in for $1.5 million years ago, Krise said.
Krise Commercial Group represented the partnership in purchasing the property. Krise said he was amazed that land had been on the market for so long.
“I first saw the property last September and couldn’t believe it was still available,” Krise said. When a purchase contract on it expired last December, Krise said he pounced on the opportunity. He picked it up April 12 with the intent to build on it, though he concedes he could sell it for an offer he can’t refuse.
One hurdle to the development is the impending construction on Littleton that will bring it and Kismet together in the northeast corner of the city as a single four-lane road.
Krise said he has spoken with the Cape Coral DOT and will speak with the Lee County DOT on May 27 to decide what to do with Littleton, which is a priority with the Lee County Board of County Commissioners.
“I told them I don’t mind cooperating with them, but to move forward, I need to know what they want to do,” Krise said. “As we get site plans approved and start selling lots, if they want to come back, it will be a lot more expensive.”
Krise said in the long run, the widening will make the development more attractive.
Krise said there will be some differences with this site plan, as there will be many smaller buildings for small industrial concerns, such as landscaping.
The old plan, while still viable, had a major player with 50,000 square feet. There were also two other buildings with 50,000 square feet and another pair with 25,000 square feet.
Krise said they don’t have anyone immediately interested in a 50,000-square-foot facility, though they will build it to suit, if desired. Lots and buildings for smaller use facilities (3,500 to 5,000 square feet) are planned with a section for the smaller businesses, and larger areas for something in the range of 10,000 square feet.
“Our objective is to make it affordable for some of the smaller players. The pent-up demand for industrial space in Cape Coral is serious,” Krise said.
Krise says he expects the project will sell out quickly, with tenants moving in as early as August 2017.
Krise Commercial Group, LLC, is the exclusive broker for Kismet Industrial Park.
For more information, contact Krise, CCIM at email@example.com or call 690-4100 (office) or 633-8672 (cell).