NAI Realvest | Charles Wayne Commercial recently closed the sale of 6.44 acres on South State Road 15A in DeLand. Lake Mary-based Flagship Companies Group purchased the land for $762,500 to build a mixed-use and self-storage development in the underserved area.
“The market is currently underserved when it comes to the supply of flex space that this project will be providing,” said Steve Costa, principal at NAI Realvest | Charles Wayne.
Costa brokered the sale and represented the sellers, Norman and Victoria Todd of Osprey.
The project is strategically located at the northwest corner of the intersection of South State Road 15A and South Adelle Avenue on the south side of DeLand.
The heavily wooded property is currently in the county, but the developer is getting it annexed into the city so he can build under city regulations.
The project will feature “Maker”-style spaces to encourage employment opportunities in the Spring Garden area, Costa said.
The Maker units will consist of five retail spaces available for lease to local artisans in the community. The units will also have capability for light manufacturing uses, with additional storage space and secured outdoor parking, Costa explained.
The state-of-the-art facility is to be managed and operated by Extra Space Storage and will also include climate-controlled storage units and outdoor parking for RVs and boats.
Flagship is also building and operating self-storage facilities throughout Florida, including Daytona Beach, Port Orange, Sanford, Orlando, Lakeland, Tampa and Sarasota.
The DeLand development will support two full-time employees, and it is estimated that more than 50 people will be necessary to support the mixed-use project at full capacity.