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Walmart buys land on US 192 for $7.3 million

Wal-Mart Stores bought the southern half of the former Oakstead property on U.S. 192 for a supercenter and gas station.
Wal-Mart Stores bought the southern half of the former Oakstead property on U.S. 192 for a supercenter and gas station.(Osceola County)

The world's largest retailer paid $7.3 million last week for 29 acres on Kissimmee's U.S. 192 W to build a new Walmart Supercenter.

Osceola County Commissioners approved Walmart's rezoning request in late August, and last month the company was granted a preliminary permit for a 189,067-square-foot store plus a 16-pump gas station and convenience store.

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The sellers were Oakwater Development Corp.; the James C. Morgan Trust; Doudney Investment Co.; Douglas S. Doudney; Doudney Limited Partnership LLLP; Ben and Yvette Schroeder; and Frank and Angeline O'Dell.

Walmart is the first applicant to fall under the new big-box standards, which require increased landscape buffers and better maintenance of signs, decorative features and overhangs. It also requires big box stores to keep their fences and boundaries "free of litter and debris" and to contain exterior lighting onsite.

The future supercenter is located on Old Lake Wilson Road and U.S. 192 just a few miles south of Disney property.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407)420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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