ORLANDO—With the Interstate 4 corridor continuing its rise on the industrial commercial real estate front, investors are keeping an eye out for prime tracts of land. One just sold in Lakeland, FL.
RG-Lakeland, an entity of New York-based Rockefeller Group sold a 112-acre land parcel located at Interstate 4's exit 38 near Florida Polytechnic University to Big Acquisitions based in Rosemont, Ill.
Big plans to build class A distribution centers targeting companies that need from 200,000 to over 1 million square feet of industrial space. This is the largest speculative industrial project in Lakeland in nearly a decade. The land is located at 3401 Old Polk City Road in Lakeland.
Edward Miller, Dolores Seymour, and Deborah Mickler, of Colliers International Tampa Bay represented, the seller. The buyer, Brennan, acquires, develops and operates industrial properties nationwide, and previously worked on the development of a nearby land parcel off Interstate 4 that is now operating as First Park at Bridgewater. That park is fully occupied at over 2 million square feet.
"This development is significant on several levels," Miller, principal and managing director of Industrial Services for Colliers, tells GlobeSt.com. "It's a thoughtful institutional endorsement of Florida market fundamentals; such as our recovery in residential development, job creation, demographic growth and a long term regional commitment to urban planning. Together with other recent expansions such as Amazon, WalMart and The Florida Polytechnic University, this development is a welcome affirmation of the future of Central Florida."
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