Retail developer NGI Investments is part of an investment group that paid $2.1 million on Jan. 31 for the vacant corner parcel on Osceola Parkway at Dyer Boulevard, next to the Loop West shopping center.
NGI President Harry Kay bought a 20 percent interest in the project through affliate company SAI Osceola Pkwy. LLC. Kay has developed multiple retail projects in Orlando and Kissimmee, including a Family Dollar and Starbucks on Vine Street.
Kay told GrowthSpotter he's planning three to four retail and quick service restaurant pads, and already has a lease with AutoZone. Kay will file a Site Development Plan with the city of Kissimmee next week.
The site is directly across from a Publix-anchored shopping center and new McDonalds. Miami-based Courtelis Company has a contract on the 50 acres at the southeast corner of the intersection, tentatively slated for a home-improvement themed shopping center anchored by a 220,000-square-foot City Furniture showroom and distribution center.