ORLANDO—Tampa's industrial market is seeing strong growth—and so are some of its submarkets. Specifically, Plant City is turning heads.
E-commerce, retail, and shipping companies are seeking space in the Tampa Bay area to accommodate distribution center and regional fulfillment facilities. Part of the demand comes from the rising customer expectation for same-day delivery.
But what about Plant City? Why does this Tampa suburb stand out on the industrial front? Plant City is geographically located in the middle of the west coast of Florida, about 25 miles east of Tampa, immediately west of Lakeland, and 70 miles west of Orlando, according to the city's website.
Plant City sits northeast Hillsborough County, which is the fourth largest county in Florida. U.S. Highway 92 and Interstate 4 run through the city, while State Roads 39, 60, and 574 also provide access. Both the CSX S line (north-south) and the CSX A line (east-west) serve Plant City.
"Attention on the I-4 corridor is bringing attention to local communities," Kostas Stoilas, a senior associate at CBRE Industrial & Logistics in Tampa, tells GlobeSt.com. "Plant City is full of business success stories and future development potential, including large-scale residential developments, which spark economic development. Economists at the University of South Florida project that, upon completion, Lakeside Station may create over 18,000 new jobs and an annual spending increase of $2.3 billion. The site is also within 200 miles of 18.4 million potential customers."
What to know more about what's sparking Tampa Bay's industrial fire? Read the first installment of my exclusive interview with Stoilas.
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