Boom continues in Avatar’s Poinciana Office and Industrial Park

October 26, 2006

The boom continues in Poinciana Office & Industrial Park as three more tenants have purchased sites and a fourth has acquired an existing building.

Nucor Steel Birmingham, Inc. of Birmingham, Alabama, Heritage Jabez V LLC of St. Michael, Minnesota, and Joe Andino of Miami, Florida purchased a combined total of 18.94 acres for nearly $1.45 million from Avatar Properties Inc., developer of the 1,545-acre park which is the largest of its kind in Osceola County.

Nucor purchased a 12.01-acre industrial site on Mercantile Lane, Heritage a 5.09-acre office-warehouse site at Poinciana Boulevard and Mercantile Lane, and Andino a 1.84-acre office-warehouse site on Avenue A. Development plans for the three sites were not revealed by the purchasers.

The fourth transaction was made by 5201 Robert McLane Boulevard LLC which purchased a 68,100 sq. ft. industrial building and 9.69 acres from former owner Graham Packaging PET Technologies. The buyer advised that it plans to lease the building, possibly to a company involved in the manufacture of products for residential and commercial construction.

The recent transactions follow on the heels of three other sales of approximately 29 acres for a collective $2.4 million. Small Bay Partners and Poinciana Commerce Center LLC of Maitland, Florida plan to build small-bay warehouses; Godhino Properties LLC of Longwood, Florida plans to build a facility for its swimming pool company, Virgil & Brothers, and a gunite staging facility for its other company, Gunite Works, Inc.; and Giron Investment LLC plans to build a construction warehouse.

Poinciana Office & Industrial Park is home to a host of nationally and internationally recognized tenants. The Park currently has over 3 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 as SMI Steel Fabricators of Florida); Chalifoux Management Group; and United States Cold Storage.

For more information about Poinciana Office & Industrial Park, contact Hank Yunes, Avatar’s vice president of commercial operations, at (305) 442-7000, or Avatar’s Tony Iorio, vice president of land development, at (407) 933-5000.0

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