Wal-mart Closes on Purchase of Old Kings Road Parcel in Palm Coast

Construction of new Supercenter not expected to commence this year.

Palm Coast, FL – July 5, 2010 – A deed recorded June 30, 2010 in Flagler County, FL documents Wal-mart Stores’ completed purchase of a 31-acre parcel on Old Kings Road on which a new Walmart Supercenter is planned. The transaction valued at nearly $5.9 million had "closed in escrow" February 9, 2010.
Wal-mart originally planned to commence construction once the Old Kings Road widening and realignment were complete, but plans changed when the economy faltered. Wal-mart is submitting a request to extend their Development Order which expires August 2010 because they are unable to commence development within that timeframe.
The retailer is also reportedly consider whether they will proceed with the approved plans calling for a 187K square foot structure including an automotive center or a revised site plan with a reduced footprint with no automotive center. The revised plan would include three outparcels along Old Kings Road frontage. The new SuperCenter will be Wal-mart’s second in Palm Coast.

Aerial Map showing repositioned Old Kings Road (this takes a few minutes to load but it’s worth the wait)
Site Plan (Note the storm water retention pond  separating the parking lot from the road)

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