But Candler Development Co. can't close the deal unless Wal-Mart sells or donates right-of-way land to the city of Clermont for immediate road-widening work in one of the hottest commercial/residential pockets in Central Florida. The site is 25 miles west of Downtown Orlando.
Candler couldn't be reached at GlobeSt.com publication deadline. A Wal-Mart representative at the company's Arkansas headquarters tells GlobeSt.com the retailer doesn't comment on pending real estate deals.
Lake County real estate records show Wal-Mart paid $2.3 million or $82,143 per acre ($1.89 per sf) for the 28 acres in 1998. Candler has a contract for a price that area brokers tell GlobeSt.com is in the $95,000-per-acre range or $2.18 per sf for a total $2.66 million.
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