Lots sell at Walker Industrial Park for a number of office developments

Tower Capital Corporation recently sold a number of lots at Walker Industrial Park off Florida Boulevard that soon will be developed with office buildings.

Tower Capital, represented by Nick FaKouri, sold a pair of lots totaling 107,450 square feet to RHM Holdings LLC for $128,000, or about $1.20 per square foot. RHM plans to construct a 6,000-square-foot building on one of the lots, which will be occupied by Walker-Hill Environmental. Walker-Hill currently occupies an older building at 11010 Florida Blvd. in Walker. It will relocate to the new building and plans to construct at a later date another building on the second lot it purchased.

Propvest LLC, represented by Philip N. Haddad and Raymond Heck, also purchased in the industrial park a pair of lots totaling 72,465 square feet for $94,000, or about $1.30 per square foot. Haddad and Heck will construct an office warehouse for Comfort Control Heating & Air on the site.

“Activity has been good since the first of the year; we have a purchase agreement for another lot and plans to build a spec building on another lot,” says FaKouri.

Last year, FaKouri purchased 16 lots in the park for $575,000. Most range in size from about one acre to two acres, with one containing 4.85 acres and another 4.11 acres. It looks like the investment is turning out to be a pretty good one for FaKouri, as he has recouped about 40% of his initial investment in about a year—and he still has nine lots and two tracts left to sell.