MELBOURNE, FL (Jan. 12, 2012) – In a sign that Brevard County may see more private companies investing in and moving to the area to capitalize on the infrastructure of the Kennedy Space Center (bottom right photo) and opportunities available after the retirement of the U.S. space shuttle program, Colliers International Central Florida is pleased to announce the $1.85-million sale of the 34,123-square-foot Melbourne Corporate Center (top left photo), located at 1775 Hibiscus Drive in Melbourne. Susan Morris (top right photo) and Kane Morris-Webster (middle left photo), CCIM, of Colliers International Central Florida represented the seller, Wells Fargo, serviced through Berkadia Commercial Mortgage, in the transaction of the real estate owned (REO) office property. The buyer was Wells Melbourne, REO, LLC, a private fund out of Florida.
The Class-B Melbourne Corporate Center is currently 80 percent occupied. The two tenants include a defense contractor in the information technology field and Webster University. The 20 percent vacant space may be well-suited for professional offices, such as for doctors or lawyers.
“Many have been hesitant to invest in Brevard County because of the layoffs resulting from the U.S. government cutbacks in the space shuttle program or because some consider it a tertiary market,” said Morris.
“But we see a vast potential in this county, which boasts some of the best defense, space, and research and development companies in the country.
“Together with their economic development councils, the county’s jurisdictional boards have been very aggressive in attracting and creating job opportunities in this challenging market. We see this sale as one of many indications that momentum is building for reinvestment and job expansion in Brevard County.”
In the last year, Brevard County has announced the addition of nearly 900 jobs, and has become home to aircraft manufacturer Embraer’s first and only U.S. manufacturing facility, aviation and defense provider AAR’s Airlift Group, a new $28-million Midair USA facility, and a new R&D center at Patrick Air Force Base.
Multimillion-dollar expansions have also taken place in the county, including international communications and information technology company Harris spending $100 million to expand its Palm Bay Campus, SolTec Electronics expanding in Rockledge, Fla., and Professional Aircraft Accessories expanding at Space Coast Regional Airport.
“Now that space exploration has become open to private companies, many are moving to the area or expanding to take advantage of the “Brevard brain-trust,” the thousands of scientists and engineers already here, along with the infrastructure of the Kennedy Space Center,” said Morris-Webster.
“We are representing several locations in Brevard County and expect to see a lot of activity and growth in this market in 2012.”
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Noelle Anderson, APR
Principal & President
True Blue Communications
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