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Quarterly Insights: North Brevard's Economic Development Zone Spurs Local Growth

  • Writer: Cassandra Hartford
    Cassandra Hartford
  • Mar 25, 2024
  • 2 min read

Updated: Feb 11



Conceptual rendering of the upcoming All Points Logistics spacecraft processing and logistics center at NASA’s Kennedy Space Center in North Brevard County, showcasing the expansive 530,000 square feet complex set to redefine aerospace logistics and technical services, with an anticipated $100+ million investment and an 18-month construction timeline.
Conceptual rendering of the upcoming All Points Logistics spacecraft processing and logistics center at NASA’s Kennedy Space Center in North Brevard County, showcasing the expansive 530,000 square feet complex set to redefine aerospace logistics and technical services, with an anticipated $100+ million investment and an 18-month construction timeline.

In the heart of Brevard County, Florida, the North Brevard Economic Development Zone proudly shares its latest business news review, highlighting our journey across Scottsmoor, Titusville, Mims, and Port St. John. This coastal gem of east central Florida is not just a scenic retreat but the economic powerhouse hosting giants like Boeing, Barn Light Electric, Blue Origin, VectorWorks, OneWeb Satellites, Gold Tones Musical Instruments, and the iconic NASA's Kennedy Space Center.


Our recent quarterly review unfolds a tapestry of local developments, signaling a vibrant surge in economic activities and growth opportunities.


Amazon has embarked on an ambitious project at NASA's Kennedy Space Center, setting the stage for a new assembly facility dedicated to its Kuiper satellite system. This $120 million, 100,000-square-foot development is expected to bolster our local workforce, providing employment for 50 skilled technicians and aeronautical engineers.


Meanwhile, Futuramic, a titan in engineering and manufacturing hailing from Titusville, Michigan, is expanding its footprint. The company plans to enhance its assembly and manufacturing capabilities with an additional 6,000 square feet to its current facility. This expansion, costing over $1.2 million, exemplifies the fusion of innovation and growth in our community.


The entrepreneurial spirit of North Brevard is further showcased by HydroSaurus Brewing Company. This budding brewery is transforming a commercial lot in downtown Titusville into a vibrant hub for beverage production, featuring a taproom and café. With an investment surpassing $2 million, it's a testament to the dynamic business landscape that thrives here.


All Points Logistics isn't far behind, with plans to construct a new spacecraft processing center alongside a logistics center at NASA's Kennedy Space Center. Spanning a combined 530,000 square feet and with an investment of over $100 million, these facilities are poised to meet the burgeoning needs of the commercial aerospace sector, NASA, and the U.S. Space Force.


At the 2024 SpaceCom exhibition and conference in Orlando, the North Brevard Economic Development Zone took a prominent role, networking with industry leaders from both the aerospace giants and smaller enterprises, further cementing our area's reputation as a hub for aerospace innovation and economic growth.


The narrative of North Brevard is one of unceasing growth and development. Our quarterly review highlights the significant investments flowing into the industrial, hospitality, and aerospace sectors, which promise to elevate North Brevard's status as a beacon of innovation and economic vitality. These endeavors are not just expanding our economic landscape; they are creating valuable job opportunities, ensuring a prosperous future for our local community.


As we look to the future, the North Brevard Economic Development Zone remains committed to fostering an environment where businesses can thrive, innovate, and contribute to the prosperity of our region. Together, we are setting the stage for a bright and booming North Brevard.


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- Cassandra

321.514.0876

 
 
 

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Brevard County Commercial Real Estate

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Melbourne • Palm Bay • Viera • Cocoa • Titusville

Space Coast Market Snapshot

Brevard County by the Numbers

The Space Coast is not speculative. The growth is measurable, funded, and accelerating.

600K+County Population
60,000New Residents (10yr)
$3.9MAirport Grant (2025)
0%State Income Tax

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The Space Coast runs on aerospace. We understand how launch schedules, contractor expansions, and defense contracts move the commercial market.

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Frequently Asked Questions

Commercial Real Estate in Melbourne, FL

How much does commercial real estate cost in Melbourne, Florida?

Costs vary by property type. Office space leases for $14 to $28 per square foot per year. Retail space runs $14 to $30 per square foot NNN. Industrial and warehouse space leases for $8 to $16 per square foot NNN. Commercial land ranges from $3 to $40 per square foot depending on zoning and entitlement status.

Do I need a commercial broker in Brevard County?

You are not legally required to use a broker, but tenant representation is free to you. The landlord pays the commission whether you have representation or not. A commercial broker provides market data, off-market access, and negotiates terms that most tenants would not know to request.

What is a NNN lease in commercial real estate?

A NNN (triple net) lease requires you to pay base rent plus three additional expenses: property taxes, building insurance, and common area maintenance (CAM). This is the standard lease structure for retail and industrial properties in Brevard County. NNN charges add $3 to $10 per square foot.

What is a 1031 exchange in Florida?

A 1031 exchange lets you defer capital gains taxes by selling one investment property and purchasing another like-kind property. You have 45 days to identify replacement properties and 180 days to complete the purchase. Florida has no state income tax, making 1031 exchanges here particularly advantageous.

What areas does Reach Commercial serve?

We serve all of Brevard County including Melbourne, West Melbourne, Palm Bay, Viera, Suntree, Rockledge, Cocoa, Titusville, Merritt Island, Cocoa Beach, Cape Canaveral, and surrounding communities on Florida's Space Coast.

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