Williams closes on third 4-acre warehouse tract in Poinciana
February 22, 2008
Williams Property, Ltd., the development arm of The Williams Company, one of the largest commercial and industrial construction companies in the Southeast, has closed on its third 4-acre site in Poinciana Office & Industrial Park on which it plans to build a 30,000 sq. ft. warehouse.
The acreage on Mercantile Lane was purchased from Avatar Properties Inc., developer of the 1,545-acre office and industrial park, the largest in Osceola County.
It is the third of three contiguous 4-acre parcels in Poinciana Office & Industrial Park jointly owned by the two Williams companies for the development of dock-level, front-load warehouses, according to Bruce Williams, president of the Orlando-based family-owned companies. A construction start date has not been established.
"We plan to sell the building in 6,000 sq. ft. increments," said Williams who also has an option to purchase an additional 28 acres in Poinciana Office & Industrial Park from Avatar at Poinciana Blvd. and Mercantile Lane.
"We're inventorying land because of our confidence in the park and the long-term market for warehouse space," said Williams. "When looking for property to accommodate the size and type buildings we want to build in the Greater Orlando area, Poinciana Office & Industrial Park was our only viable option."
Four Williams family partnerships, including Williams Property, Ltd., currently own 500,000 sq. ft. of industrial buildings in Orange County.
Poinciana Office & Industrial Park currently has nearly four million square feet under roof and some 2,200 employees, which includes many residents of Poinciana, the 47,000-acre master-planned community also being developed by Avatar, the community's primary homebuilder.
Other tenants in Poinciana Office & Industrial Park include Lowe's Home Improvement Warehouse and its $73 million regional distribution warehouse; Home Depot, the world's largest home improvement retailer; Nursery Supplies, Inc., the world's largest manufacturer of molded plastic plant containers for the wholesale industry; Jeld-Wen doors and windows (formerly DoorCraft of Florida), Osceola's 1998 Industry of the Year; Windsor Metal Finishing, winner of the 2004 Sustainable Florida Best Practices Award for Small Business for its use of environmentally-friendly technology; Cargill, Inc. (Nutrena Feed Division); McLane/SunEast; and PepsiCo Beverages & Foods/Gatorade (formerly Quaker Oats).
The tenant list also includes MultiFoods; Nucor Steel Birmingham, Inc., a holding of Nucor Corp., the world's largest steel recycler; Symbol Mattress Company; Blackton, Inc.; Florida Power Corporation; Lehigh Cement; Amtrak; Texaco; 7-Eleven; PROscape land management and service; SSI Properties, Inc.; P.R. Manufacturing; Commercial Metals Company (dba SMI Steel Fabricators of Florida); Chalifoux Management Group; United States Cold Storage; Heritage Jabez V LLC; Joe Adino; Small Bay Partners and Poinciana Commerce Center LLC; Poinciana 15 Acres, LLC; Godhino Properties LLC; and Giron Investment LLC.
For more information about Poinciana Office & Industrial Park, contact Hank Yunes, Avatar's vice president of commercial operations, at (305) 442-7000, or Tony Iorio, Avatar's vice president of land development, at (407) 933-5000. To learn more about The Williams Company, contact Bruce Williams at (407) 256-0437.
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