Intram Investment's Sunrise City Plaza in Kissimmee will be anchored by a 46,500-square-foot Publix, which will replace the store at Poinciana Place.
Intram officials have been mum on tenants, but a new site plan filed this week with the South Florida Water Management District identifies Publix in the center spot, flanked by a 27,000-square-foot Ross and a 20,500-square-foot T.J. Maxx on both sides. Publix would have its own liquor store in the plaza, as per the original site plan.
Sunrise City Plaza will be built on 34 acres at the northeast corner of the intersection at W. Osceola Parkway and SR 535 (Vineland Road). It's about a half mile from retail center Poinciana Place, which was built in 1988.
Publix signed a lease for that store, No. 351, in June 1987. The lease was amended in 2003, according to legal records. The Lakeland-based grocer typically replaces stores after 20 years, and it's not uncommon for Publix to build a new store right next to an existing store.
Publix officials declined to comment for this article.
In 2015, Publix opened six replacement stores and closed two supermarkets to rebuild on-site, according to the company's annual report. "In the normal course of operations, the company replaces supermarkets and closes supermarkets that are not meeting performance expectations."
So far this year, Publix has opened one new replacement store and is rebuilding three others onsite, according to SEC filings.
Sunrise City Plaza is part of a 238-acre mixed-use project that also includes multifamily and hotel entitlements. The shopping center includes four 1-acre outparcels, two of which have LOIs from fast-food and fast casual restaurants, Intram Executive Vice President Randy Hodge told GrowthSpotter on Thursday.
"We're working with a variety of users for the other two outparcels," Hodge said. "We have one that would hold a sit-down restaurant. We're open to any user that would be appropriate on outparcel, like a mattress store."
Hanson, Walter & Associates is civil engineer. Hodge said Intram will be inviting pre-approved contractors to submit sealed bids within the next 60 days.
Intram had a deal in place with a national developer to build 400 apartments as the first phase of a plan to build 1,000 total units, but Hodge said Intram is actively marketing the multifamily site.
"The contract for that didn't stick," he said. "It happens. It's just the way it works sometimes. I'm sure we'll find a multifamily developer out there. We're considering several LOIs now."
Hodge said Intram is also close to pulling the trigger on a 30.5-acre retail project in Polk County's Posner City Center, at the U.S. 27 - I-4 interchange.
"We finished the contract and we're in due diligence with the seller," he said.
Intram received preliminary approval in May for a conceptual plan that called for 281,300 square feet of retail space, 201,300 square feet of big box space plus eight 1-acre outparcels that could accommodate 10,000 square feet each.
Victor Posner City Center, also known as Posner Park, is a 366-acre mixed-use development that is home to the Posner Commons shopping center and Cinepolis IMAX theater. Intram's portion would be called Posner Village.
"Due diligence will be done in the next 30 days and then we'll be looking for site plan approval from the county," Hodge said.
The plan requires Intram to remove and rework some of the existing roads within the project. Kimley-Horn is the civil engineer.
Posner Village would use up most of the remaining commercial entitlements, but Posner City Center would still have entitlements for 1,991 residential units, 2,600 hotel rooms and 1.4 million square feet of offices.
"The seller still has quite a few parcels," Hodge said. "There's probably enough entitlement that anybody could do any use out there that the county found acceptable."