LQ Commercial has announced the successful completion of six significant land holdings on behalf of Wal-Mart Stores, totaling 150 acres with a combined transaction value of $51 million.
“The strategic acquisitions span multiple markets and reinforce Wal-Mart’s aggressive expansion strategy in Florida,” the company said in a press release.
Locally, that includes the 12.45-acre land lease at the southeast corner Cherry Lake Road and County Road 466 in Lady Lake. Site clearing has been taking place at the planned store in Lady Lake.
The other Florida sites are as follows:
• 9.3-acre land lease at 3535 SE Maricamp Road in Ocala.
• 101.5-acre assemblage (two sites) along U.S. Hwy. 331 in Freeport.
• 22-acre acquisition at northwest corner Twinn Laurel Blvd. and Laurel Road in Venice.
• 3.5-acre sale at Highway 98 and Henderson Beach Blvd. in Destin.
• 0.95-acre acquisition at 10193 County Line Road in Spring Hill.
Peter Klein, Senior Associate at LQ Commercial (and exclusive Florida Wal-Mart site selection representative) orchestrated the complex multi-market acquisition campaign.
“These demonstrate the retail giant’s confidence in Florida’s robust economy – and its consumer demand,” said Klein. “Each represent a commitment to bring jobs and economic vitality to bourgeoning markets”.
Klein’s longstanding representation of Wal-Mart stems from his days as Real Estate Director for the retail giant. Today, his continued alliance represents one of the most significant retail real estate partnerships in the State. This known partnership, coupled with rigorous market analysis and long-term development potential, resulted in superior sites.
LQ, a preferred partner for several national retailers, confirms that Florida remains as a desirable destination for expanding national retailers.
“It is known that population growth, tourism, and a favorable business climate are all serious expansion considerations,” said LQ Commercial CEO, Charlie Boscarino. He added “with Peter, there’s an inherent security of streamlined decision-making, confidential intelligence, and accelerated transaction timelines.”