FL --- Trammell Crow, the largest full service real estate
company in the United States, has contracted to purchase
51 acres at Posner Park, the $500 million mixed-use development
at the southeast corner of Interstate 4 and U.S. Highway
27 in Polk County.
51 acres, including 2.5 parcels fronting U.S. 27 and Interstate
4, will be developed by Trammell Crow for “big box
retail,” according to Richard De Lotto, senior vice
president of Kitson & Partners, Posner Park’s
West Palm Beach-based project manager.
Crow shares our vision for Posner Park being the gateway
to Polk County and the premier mixed-use development along
the I-4 corridor. This partnership is a major step in that
direction,” said De Lotto, noting Trammell Crow also
has an option to purchase an adjoining 34 acres.
51-acre site will house “two big box stores, for sure”
with as much as 385,000 sq. ft. of retail space, according
to Larry Pantlin, Trammell Crow’s Atlanta-based managing
director for retail development.
on the doorstep of what promises to be the most significant
mixed-use development of regional impact(DRI) in Central
Florida,” Pantlin said.
addition to meeting the needs of residents living in the
burgeoning Four Corners area, we believe Posner Park will
prove to be the top destination for tourists and visitors
traveling to and from Orlando and Tampa along the I-4 corridor,”
former Baseball City complex and Kansas City Royals’
spring training facility, Posner Park occupies 368-acres
overlooking one of only four full access interchanges on
I-4. The new $60 million interchange is part of the State
of Florida’s $325 million improvement of a 29-mile
stretch of I-4 between Lakeland and the Osceola County line.
Land Development, Inc. (BLD), a subsidiary of Hallandale
Beach-based Victor Posner Enterprises, is developing Posner
Park which has been inspired by turn-of-the-century European
Park is planned to encompass a mix of brand name retail
shops and high-end boutiques, upscale offices, destination
restaurants, one or more 5-star hotels, luxury multi-family
residences, entertainment and cultural venues, and inviting
pedestrian parks and public spaces, all embracing a lavishly
landscaped core plaza with fountains and decorative hardscape
plans call for nearly 1.5 million sq. ft. of specialty and
general retail, over 1 million sq. ft. of Class A office
space, 2,600 upscale hotel rooms, and nearly 2,000 luxury
multi-family residences for an anticipated 4,500 residents.
To be accessed by tree-lined boulevards, Posner Park will
feature “an upscale environment with Old World charm
and human scale that will provide a tangible sense of place,
encourage social interaction, and offer a unique and exciting
address for people to live, work, shop and simply enjoy
themselves,” said De Lotto.
of Posner Park is expected to take 8-10 years to complete,
De Lotto said. For more information, contact Richard De
Lotto, Kitson & Partners, at (973) 360-5647. Trammell
Crow’s Larry Pantlin can be reached at (770) 290-0510.