Orlando's Upshot Medical Center project takes another step toward groundbreaking Enlarge Upshot Medical Center at Mills Park will rise at 1724 N. Mills Ave. Upshot Capital In This Article • Construction Topic • Upshot Capital Advisors LLC Company • AdventHealth Company • Bonnett Design Group, LLC Company • Cushman & Wakefield Company • Franklin Street Company • HuntonBrady Architects Company • More By Jack Witthaus – Staff Writer, Orlando Business Journal Jul 22, 2021, 10:22am EDT One of Orlando's biggest commercial construction projects has taken another step toward a groundbreaking. Orlando-based developer Upshot Capital Advisors LLC sought building permits on July 20 for the construction of the shell and core of a five-story medical office building and a multistory parking garage, city of Orlando records show. The estimated construction cost is roughly $19.2 million. Upshot Capital Advisors told OBJ in May that it planned to break ground before the end of 2021 on the $70 million-$75 million, 165,000-square-foot health care complex called Upshot Medical Center at Mills Park. The two-building medical office project will feature heights of five and six stories. It's slated to go on 2.6 vacant acres at 1724 N. Mills Ave., and construction is expected to wrap up in late 2022. Sign of a tenant? It's not known if a tenant has been signed. Upshot COO Juan Carlos Gomez previously told OBJ the developer would have "considerable pre-leasing completed prior to the start of construction." However, Gomez was not available for comment for this article. Upshot hired Orlando-based Jamison Commercial Partners to handle leasing for the future development, and Jamison Vice President Chuck Holliday previously told OBJ he's already in talks with several potential tenants. Holliday also wasn't available for comment. Typically a tenant or tenants have signed leases before building permits are sought, say real estate experts. Tenants that may be interested in that space near AdventHealth Orlando's downtown campus on Rollins Street include outpatient surgery, primary care, urgent care, medical testing services and more, said Terrence Hart, senior director of health care and retail for Franklin Street. Hart is not involved with the Upshot project. "All of those ancillary uses will gravitate toward a hospital." Recommended Upshot's affiliate Upshot Construction Services LLC will build the project. Orlando-based HuntonBrady Architects is the project architect; Altamonte Springs-based Kilma Weeks Civil Engineering Inc. is the civil engineer; and Maitland-based Bonnett Design Group LLC is the landscape architect. Office stats The downtown office submarket, which includes the site of the proposed project, has a 15.4% average vacancy rate, which is higher than the Orlando-area average of 14.3%, Cushman & Wakefield (NYSE: CWK) reported. The submarket's average asking Class A office rental rate is $29.42 per square foot, compared with the Orlando-area average of $27.44.