As an example, local brokers cite the search in the local market for a 150-acre-plus site by Lowe's Cos. Inc. of Wilkesboro, NC, the nation's second largest home improvement retailer; and Wal-Mart Stores Inc. of Bentonville, AR, the country's largest retailer.

Both retailers plan to build one million-sf to two million-sf distribution centers, consolidating smaller centers elsewhere in the region. The estimated hard construction costs of the projects are $35 million to $70 million.

K-mart currently operates the largest distribution center in Central Florida in Ocala, FL, 80 miles northwest of Downtown Orlando. The two-million-sf center originally began as a 1.5 million-sf property 10 years ago.