Mar. 30--After years of absence, Harbert Realty Services of Birmingham, Ala., is back in the Central Florida development game with a mixed-use project in Altamonte Springs.
The company purchased an 18,200-square-foot office building and just less than 3 acres at 887 East Altamonte Drive, just south of the Altamonte City Municipal Complex.
The in-fill development is planned as a mix of office and retail space, said David Williams, Harbert's chief operating officer.
Williams said the project, called Altamonte City Centre, will have the two-story office building, 5,000 square feet of retail space and an AmSouth bank branch.
The office space may be marketed to medical-service tenants because of the proximity of Florida Hospital-Altamonte, Williams said.
The property was purchased for $4.2 million from Daniel Corp. of Winter Park II. Greg Morrison of Advantis Real Estate Services Co. and Wendy Krepak and Rich Krepak of Harbert Real Estate Services handled the transaction.
In the 1980s, Harbert developed a two-building office complex called Maitland Green. The company later sold both buildings but maintained a brokerage office here.
Williams said that, while the company had been focused on real estate brokerage and corporate real estate services, it recently decided to get back into development.
"We like Orlando and the potential," he said.
The company also has development plans in Tampa and Fort Myers.