The City of Titusville, Florida / News

Project Signal leasing space at the Titusville Logistics Center will be first tenant

Aerospace firm lease OK'd for port complex in Titusville

Dave Berman, FLORIDA TODAY 7:37 p.m. EDT September 28, 2016

Port Canaveral commissioners on Wednesday unanimously approved a five-year lease with an

international aerospace company that hopes to begin operating at the port-owned Titusville Logistics Center as

early as January.

Port Canaveral Chief Executive Officer John Murray said the company could be the first of several companies in the commercial space and aerospace sectors, as well as in other industries, looking to lease space in the complex, at 7700 U.S. 1 in south Titusville. The company is being called "Project Signal" for the time being to conceal its identity.

Project Signal plans to lease 22,200 square feet of warehouse space and 1,600 square feet of office space at the Titusville Logistics Center for a monthly base rent of $11,900, plus monthly fees of $2,975 for taxes, maintenance and insurance.

Murray said Port Canaveral is negotiating terms of a potential lease from two other companies that are interested in the Titusville Logistics Center:

Additionally, Murray said, another company is in discussions to lease 100,000 square feet at the Titusville Logistics Center.

"We'll know more on that by the next meeting, I hope," Murray told port commissioners.

"I'm encouraged by the activity at the Titusville Logistics Center," Port Commissioner Bruce Deardoff said during Wednesday's meeting, noting the potential for new jobs and business activity for the area. "It's so good for the Titusville area. It's so good for North Brevard. I think it's going to be a huge success before it's all over."

Port Authority Vice Chairman Wayne Justice added that "it's so good that we're getting people in there."

Project Signal will be the facility's first tenant.

Port Canaveral Director of Real Estate Scott Shepard said that, with leases starting to be signed for that facility, "We are a force to be reckoned with in the logistics market. It's coming together. The activity has picked up. It clearly shows we're committed."

Port Canaveral acquired the 246,240-square-foot building from Flagler Global Logistics in May for about $18 million. The port initially had planned to lease the building from Flagler, which developed the site. But port commissioners decided it would make more financial sense to buy the building outright.

The North Brevard Economic Development Zone board earlier this month approved financial incentives for Project Signal.

• "Project Blue Container" is looking for a five-year lease for 23,000 square feet of space.

• "Project ET" is looking for a five-year lease for 19,000 square feet of space.




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The City of Titusville, Florida
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