Dr. Phillips, Inc. was once the largest citrus producer in the US. The flagship original citrus processing and packaging operations was a 200-acre property dating back the early 1900’s. After the sale of the Citrus business to Minute Maid in 19??, the property was retained by DP and converted to various market rate office, warehouse and industrial properties anchoring the legacy property as a core asset of Dr Philips’s Inc. for years to come. This legacy property begins the growth of Dr Phillip’s Inc as a major income property owner for years to come. Other important assets such as the entire Dr. Philip’s area in Southwest Orange County would be artfully planned with remarkable vision for what was to become the thriving Central Florida marketplace of today. Dr. Phillip’s carefully fostered the grow of their legacy properties while also generously giving back to the community in the form of school sites, libraries, park space, art centers and hospitals to become one of the largest income property owners and oldest philanthropic Foundation in Central Florida.
DR. PHILLIPS SPRING LAKE
While these properties continue to serve them well, the challenge of modernization was emerging as a major initiative that required attention. While DP had become seasoned property managers, the various disciplines and experience of real estate development was not a core part of their business.
In 2013, SCA was interviewed for the assignment of advising Dr. Phillips with new project development and was engaged for the initial Spring Lake project in the same year. SCA lead and integrated development process beginning with market analysis, project conceptualization, selecting operating partners, financial structuring, all aspects of design & engineering and construction oversight, delivery and assisted with finding major anchor tenants for the 60,000 S.F Medical complex and 180 bed mixed acuity senior center.
Spring Lake was a critical launch into the development space and SCA was proud to have led the advisory role to the projects very successful completion as the first new $90,000,000 investment property added to DP’s portfolio.