The buyer is believed to be Wal-Mart Stores Inc., which plans toerect the second largest distribution center in Central Florida--a$50-million, 1.2-million sf complex at Country Road 470 and theFlorida Turnpike in south Lake County. The site is 30 miles west ofDowntown Orlando.
Comparable dirt at established Orlando area business parksoffering full utility and fire protection services would be atleast $100,000 per acre or $2.30 per sf, according to area landbrokers.
Carter and Burgess, a Fort Worth, TX-based consulting firm, isalso taking a $4.6 million economic incentive offer from the cityto the buyer. The incentives include a $2.4 million property taxexemption on site improvements for ten years; and $1 million for acity-built well and tank for fire protection.
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