Islandwide Construction developing warehouse space for small businesses
Islandwide Construction Limited has broken ground for construction of 27 warehouse units at Marverly Avenue in Kingston under a joint venture with owners of the land.
The units are intended to serve small businesses which need storage space and distribution centres, Roberto Clivio, a director of Islandwide Construction, said on Friday.
The property is being developed through RDM Properties Limited, with Islandwide Construction as the builder.
The partners are investing almost $500 million, covering the cost of 2.75 acres of land and construction, said Clivio. The complex will be named R1 Commercial Park.
The units will feature steel float finish, 20-foot ceilings, provisions for water tank and generator, and steel-roller shutter doors. The site accommodates a 30-foot entryway for "all vehicle types and sizes".
An optional mezzanine expansion feature will allow buyers to create another interior floor, which the height of the units allows, Clivio said.
The units are promised for delivery by summer 2016. The project includes individual units and clusters, which range in price from $20 million to $30 million, while unit sizes range from 1,400 square feet to 1,800 square feet.
"People are using converted homes for storage. Now they will have a space made for the purpose with facilities for trailers to unload," said realtor Anya Levy of ReMax Elite Jamaica.
"There is nothing like it [R1] on the market," Clivio added.
"The right product in the right place will attract demand."
The complex is a three-minute drive from the retail hub at Half-Way Tree.