Aldi – Multi Parcel
US Hwy 27 and Thompson Nursery Rd, Lake Wales
The challenges on this site were significant, from site acquisition to building turn-over.
Our real estate manager identified this growing trade area in Lake Wales as a void for Aldi. All available land was built out and there was no easy entrance strategy for this market.
An assemblage of three parcels would be required to meet the size demands of the project. The parcels included: a single unit motel operator, a veterinary hospital, and vacant land with a billboard advertising the land owner’s family-business. There was neither a high urgency to sell, nor a common ownership that would align the purchasing of the 6 acres. Business relocations, family retirement plans, and personal dynamics had to be considered. The acquisition took nearly three years to align all parties!
Once the assemblage was contractually secured, we presented the site to Aldi. Knowing the challenges of penetrating this stretch of Hwy 27, Aldi wanted to move forward with some stipulations. We were able to come to a win/win arrangement that allowed them to enthusiastically say “yes”.
The site challenges did not stop with the front-end work, new hurdles arose throughout the feasibility, budgeting, and post-approval process.
- Significant offsite improvements were necessary
- demolition of the existing hospital and hotel
- Reconfiguration of a major multi-lane signalized intersection a FEMA regulated floodway encroachment
- consideration of surrounding jurisdictional wetlands
- construction coordination with existing owners’ relocations.
The team attacked the design, permitting, and site level construction, with the goal of having Aldi open for business prior to year-end 2018. There were significant change orders for additional costs along the process, but our client Aldi was insulated from those changes. Building construction commenced early summer of 2018 and the site was turned over to Aldi. They opened for business on December 14th 2018.