Development of office/warehouse space planned in Avatar’s Poinciana Office and Industrial Park

December 13, 2006

Poinciana McLane CommerCenter has purchased a 25.83-acre site in Poinciana Office & Industrial Park on which it plans to develop approximately 91,000 sq. ft. of office/warehouse space and sell industrial lots.

Poinciana McLane CommerCenter, which purchased the site from Park developer Avatar Properties Inc. for just over $2 million, plans to build seven spec office/warehouse buildings of approximately 13,000 sq. ft. each and sell the remainder of the property as developed lots for sale or to companies as build-to-suit sites.

The property is located on Industrial Lane, about one block southeast of the Poinciana Blvd. and U.S. Highway 17-92 intersection, in the heart of the booming Park where close to 74 acres have been sold by Avatar to seven tenants for nearly $6 million in the past four months.

Poinciana McLane CommerCenter’s office/warehouse buildings will occupy about an acre each with approximately 90 percent of the total space devoted to warehouse uses, according to Michael F. Heidrich, senior vice president with NAI Realvest and a partner in the development.

Site development is expected to begin next spring with construction slated to commence next summer, Heidrich said.

Poinciana Office & Industrial Park is home to a host of nationally and internationally recognized tenants. The 1,545-acre Park, largest in Osceola County, currently has nearly 3.5 million square feet under roof and some 2,200 employees, many residents of Poinciana, the 47,000-acre master-planned community also being developed by Avatar, the community’s primary homebuilder.

Other tenants in Poinciana Office & Industrial Park include Lowe’s Home Improvement Warehouse and its $73 million regional distribution warehouse; Nursery Supplies, Inc., the world’s largest manufacturer of molded plastic plant containers for the wholesale industry; Jeld-Wen doors and windows (formerly DoorCraft of Florida), Osceola’s 1998 Industry of the Year; Windsor Metal Finishing, winner of the 2004 Sustainable Florida Best Practices Award for Small Business for its use of environmentally-friendly technology; Cargill, Inc. (Nutrena Feed Division); PepsiCo Beverages & Foods/Gatorade (formerly Quaker Oats); MultiFoods; P.R. Manufacturing; McLane/SunEast; Symbol Mattress Company; Florida Power Corporation; Lehigh Cement; Amtrak; Texaco; 7-Eleven; Williams Properties, Ltd.; SSI Properties, Inc.; Commercial Metals Company (dba SMI Steel Fabricators of Florida); Chalifoux Management Group; United States Cold Storage; Nucor Steel Birmingham, Inc.; Heritage Jabez V LLC; Joe Adino; Small Bay Partners and Poinciana Commerce Center LLC; Godhino Properties LLC; and Giron Investment LLC.

For more information about Poinciana McLane CommerCenter, contact Michael F. Heidrich, NAI Realvest, at (407) 949-0719. For more information about Poinciana Office & Industrial Park, contact Hank Yunes, Avatar’s vice president of commercial operations, at (305) 442-7000, or Tony Iorio, Avatar’s vice president of land development, at (407) 933-5000.

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