Development started on Lowe’s store in PoincianaSM
September 11, 2007
The retail boom continues in PoincianaSM
Lowe’s, the world’s second largest retailer with over 1,400 stores in 49 states, has begun development of a Lowe’s home improvement retail store in the massive 47,000-acre master-planned community being developed by Avatar Properties Inc.
The store, to be located on an 18.64-acre site at the junction of Poinciana Boulevard and Pleasant Hill Road in Osceola, is planned to include 117,000 sq. ft. of retail sales space and more than 31,000 sq. ft. for an adjacent outdoor garden center.
A store of this size represents an average investment of $18.5 million and creates up to 175 new jobs, according to officials of the 61-year-old Moorseville, North Carolina-based do-it-yourself retailer which operates over 96 Florida home improvement retail stores with more than 17,200 employees.
PoincianaSM already is home to the 1.3 million square foot, $73 million Lowe’s Regional Distribution Center (RDC) in Avatar’s Poinciana Office & Industrial Park.
Lowe’s joins a growing list of retailers coming to PoincianaSM. A 139,000 sq. ft. Home Depot retail center is under development at Poinciana Blvd. and State Road 17-92, while the $15 million Cypress Plaza Shopping Center is under construction in the community’s retail hub in Poinciana Towne Center which currently has nearly 80 businesses and restaurants including a WalMart SuperCenter, a Publix Supermarket, a Winn-Dixie Marketplace, a library, and a family medical clinic. Cypress Plaza is planned to include five restaurants, condo offices, and a number of national and regional retail tenants.
Less than a mile west, the first phase of the new Solivita Marketplace is now open and planned to ultimately encompass over 60 acres at the corner of Cypress Parkway and Marigold Avenue. Among the current tenants in Solivita Marketplace are four restaurants, two banks, and a Walgreens Drugs.
Just two miles north of the new Lowe’s location on Pleasant Hill Road, Southeast Centers, LLC plans to begin development this fall on the $20 million Village Shops at Bellalago which will be anchored by a Publix Supermarket.
Avatar is the primary homebuilder in PoincianaSM, one of America’s largest master-planned communities with a current resident population of approximately 65,000.
For more information about the new Lowe’s store in PoincianaSM, contact the Lowe’s Public Relations Department at (704) 757-9210 or log onto the company’s website at www.lowes.com.
For more information about Avatar and PoincianaSM, contact Tony Iorio, Avatar vice president of land development, at (407) 933-5000.
More about Lowe’s
A FORTUNE ® 500 company (ranked # 45) with fiscal year 2006 sales of $46.9 billion, Lowe’s has over 210,000 employees, serves more than 13 million customers a week in the United States, and was named the ENERGY STAR® Retail Partner of the Year for four consecutive years (2003-2006). The company stocks 40,000 products and has hundreds of thousands more available by special order. The company’s PoincianaSM Regional Distribution Center (RDC), one of 11 world-class RDCs throughout the United States, opened in 2004. The size of approximately 28 football fields, it is located on a 150-acre site in Avatar’s Poinciana Office & Industrial Park where national and international tenants currently have nearly four million sq. ft. under roof and employ over 2,500 persons, many of whom live in Poinciana.