The value of the leasing and management contract wasn't disclosed. Warehouse space will rent for $5.25 per sf; office, about $10.25 per sf. The estimated hard construction cost of the project is $65 million.

The site is adjacent to the Interstate 75 and U.S. 301 Interchange along Falkenburg Road. The first 130,522-sf building, offering a cross dock configuration, is expected to be completed by year end.

"The I-75 corridor has tremendous growth potential," Doug Bartley, senior vice president/city director of Jones Lang LaSalle, tells GlobeSt.com. He calls Interchange Center a Verizon smart park, designed to accommodate the technology needs of growing companies. "We hope to get in on the ground floor of this development," Bartley says.