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Colt's Kissimmee plant takes step toward reality

On Monday, Osceola County Commissioners approved a landlord agreement for a 16,000-square foot facility near Kissimmee.

The landlord agreement, which is between Osceola County and a private lender, would have the county serve as the landlord for the Shady Lane structure.

Although several companies are said to be interested in this particular piece of commercial real estate, it is likely that the facility will serve as a manufacturing operation for Colt Firearms.

Colt has been expressing interest in moving into the Osceola County area for several years, and local officials have tried to come up with the right amount of incentives and enticements to make something actually happen. So far, though, nothing has actually materialized. At one point, Colt was expected to have a facility up and running in Osceola County by June 2012, but that never happened.

By now, some area business boosters have grown weary of Colt's reluctance to actually commit to the area, and so are grumbling that the county is once again trying to sweeten the deal for Colt.

That being said, few people are against job creation,and in the past, Colt has said it will generate a certain number of jobs in the region with the new facility.

As this story illustrates, the legal agreements and commitments that pertain to commercial real estate can be complicated and are not something anyone should be in a hurry to rush into. In many instances, hiring an attorney who is familiar with these matters can be very beneficial.

 

Source: The Orlando Sentinel, "Plan to open Colt firearms plant in Osceola shows signs of life," David Breen, Aug. 5, 2013

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