The estimated hard construction cost of the project is $12 million. A ground-breaking date hasn't been announced. Projected rents are $4 per sf to $6 per sf.
Duke-Weeks' decision to build in Lakeland is factored by the seven million people living within 100 miles of the park. The Polk County park is 20 miles from Tampa and 60 miles south of Downtown Orlando.
Lakeland Interstate Business Park 1, the building's name, will offer 38 dock doors, 28-foot ceilings, six entries, and parking for 147 vehicles.
Indianapolis-based Duke-Weeks owns, manages or has under development 3.2 million sf of industrial properties in the Tampa-Orlando market.
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