Mystery company scouting Central Florida for 1 million square feet of warehouse space
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Nov 6, 2014

A mystery company is on the hunt for a site that could accommodate a 1 million square foot warehouse in Central Florida.

A company that hasn't divulged its identity is looking at sites in the Interstate 4 corridor, between Tampa and Orlando, according to real estate sources, who asked not to be named because of the sensitivity of the deal.

Mega-size distribution centers can create hundreds of jobs and generate millions in capital investment, which translates into more property tax revenue for municipalities. In Florida, most distribution centers don't qualify for state incentives because the jobs they create don't meet necessary wage requirements - unless they build in rural areas, which are eligible for special incentives because wages there tend to be low.

The space requirement came into the market about 60 days ago, sources say. There are no existing buildings that can accommodate a 1-million-square-foot space requirement, and only a handful of sites that are close to construction ready. One site that could be in the running is near I-4's Exit 38, where Rockefeller

Development Group owns 112 acres that can accommodate more than 1 million square feet.

A size requirement of 1 million square feet is likely a big-box retailer, sources said. Some speculate that the company is Walmart Stores Inc., searching for a site for an ecommerce fulfillment center.

Walmart is under construction on two ecommerce fulfillment centers, in Georgia and Pennsylvania, both of which are more than 1 million square feet. In June, the company committed to a 1.2 million square foot ecommerce fulfillment center in Indiana. In fiscal 2016, Walmart said it plans to invest $1.2 billion to $1.5 billion in ecommerce and digital initiatives.

"These centers will be part of its next generation fulfillment network that includes dedicated online fulfillment centers, shared distribution centers, and ship-from-store locations that are all tied together by one of the biggest and most efficient transportation networks in the country," Walmart said when it laid out its capital expenditure plan for fiscal 2016 in mid-October.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.