490,000 SF Logistics Center In Lakeland Trades To Cabot Properties

Aug 22, 2018 No Comments by

Ridge, the industrial development arm of Transwestern Development Co., announced the disposition of Lakeland Logistics Center, a 490,000-square-foot property at 2015–2025 W. Memorial Blvd. in Lakeland.

Cabot Properties acquired the two-building project that is currently 50 percent leased.

 

“Lakeland Logistics Center is ideally situated for large-scale users looking to provide expedited delivery to the Southeast region of the country,” said Steve Kros, Executive Managing Director at Ridge. “The property’s superior location and design made it a compelling investment opportunity for Cabot Properties, and we are pleased to see this project come full circle.”

The 43.6-acre park is within 2 miles of Interstate 4 near the intersection of U.S. Highway 92 West and Wabash Avenue. This central location between Tampa and Orlando gives tenants access to 8.8 million people within a 200-mile radius and allows for same-day delivery to any location in Florida. Each 245,000-square-foot building is divisible to 44,000 square feet and features front-load or cross-dock capability, 74 dock doors, 32-foot clear height, 45 trailer parking spaces and a 3.5-acre staging base.

Ridge broke ground on Lakeland Logistics Center in June 2015 with full delivery in January 2017. The project is home to Parksite Inc. and Recleim Nova LLC. Leasing services are being provided by Julia Silva Rettig and Jared Bonshire of Cushman & Wakefield.

Chris Riley and David Murphy with CBRE brokered the sale.

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