Jun 6, 2023
Developers Close Land Deals in Kissimmee and Metrowest
Orlando-based Intram Investments paid $5.75 million this week for 15 acres of land at the intersection of Poinciana Boulevard and Oren Brown Road.
Intram VP Randy Hodge told GrowthSpotter they see potential for a mix of retail and multifamily on the property have no immediate plans to develop it. The property is over 10 acres, which means Osceola County would require 20% to be developed as non-residential uses.
“Most likely, mixed use but we haven’t made any final determinations,” Hodge said. “We just liked the intersection. I think that’s very likely growth area, so we’re prepared to invest in it.”
The property is less than a mile from Kissimmee’s W192 tourism corridor and a short drive to the Poinciana SunRail station.
Dusty Calderon with SVN Saunders Ralston Dantzler brokered the sale on behalf of the sellers, descendants of pioneer cattle rancher Oren Brown. The Brown Ranch Six LLC won approval for a land use and zoning change to Tourist Commercial for that parcel, along with 75 acres north of Oren Brown Road. It was all part of a original 2,000+ acre Brown estate, much of which was sold to Disney in 2019.
Intram has a long track record of commercial and mixed-use development in Central Florida. In Kissimmee, the company completed Sunrise City, a Publix-anchored shopping center with five market-rate apartment communities. Posner Village on U.S. 27 at I-4 is also nearing completion, and Intram is wrapping up the first phase of its Olinda Center redevelopment at International Drive and Kirkman Road.