Davenport, 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.

The 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.

“Trammell 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.

The 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.

“We’re on the doorstep of what promises to be the most significant mixed-use development of regional impact(DRI) in Central Florida,” Pantlin said.

“In 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,” Pantlin explained.

The 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.

Boardwalk 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 “Garden Cities.”

Posner 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 elements.

Current 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.

Development 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.