Central Florida’s Up-And-Coming Industrial Hubs

May 20, 2015 No Comments by

Central Florida has emerged as a major e-commerce hub.

Strategically located between Tampa and Orlando, Lakeland and Plant City are finding their way on warehouse and distribution developer radar screens.

Indeed, these up-and-coming industrial areas are starting to see spec development. It makes sense, given that these smaller cities sit along the Interstate 4 corridor, which connects the Turnpike on the east coast and Interstate 75 on the west coast of the state.

It’s against that backdrop that JLL makes a big announcement. The firm won the leasing assignment for a commercial real estate portfolio Atlanta-based Heritage Equities owns. The portfolio includes three properties in Lakeland and Plant City. The assets span 677,500 square feet of office, warehousing, and distribution space.

JLL senior vice presidents John Dunphy and Bob Alter, along with associate Ryan Vaught, will spearhead the efforts, which include 450,000 square feet of planned development at the Southwest corner of Interstate 4 and County Line in Plant City and Heritage Business Center and Commerce Point in Lakeland.

 

“The intersection of I-4 and County Line is one of the most sought-after, high profile locations in Tampa Bay, making it a landmark development opportunity suitable for various uses, including a corporate headquarters,” says Vaught.

The Plant City development site includes 30 buildable acres bordering County Line and Interstate 4, with frontage to Interstate 4 ideal for business naming rights. The property sits within a mile of major existing and future distribution centers for Amazon, Rooms To Go, and Publix.

 

”Heritage Business Center has established itself among the preeminent business parks in Lakeland,” says Vaught.

Heritage Business Center is a premier flex business park in Lakeland that offers five of the planned eight buildings with office and distribution space with 24-foot clear ceiling height. Tenants in the park include Daltile, Safelite AutoGlass, Terracon and National Flood Services.

 

“Commerce Point represents a redevelopment project where end users can have the benefits of a new building at a lower cost and faster occupancy,” says Vaught.

Commerce Point sits at 2443 Commerce Point Drive in Lakeland and offers three buildings primarily used for warehousing. These buildings are currently under redevelopment.

Beyond these three properties, evidence abounds that this region is lighting up on industrial developers building maps. Ridge Development, for example, recently announced intentions to build two separate 240,000-square-foot buildings at the intersection of Memorial and Wabash, which would bring the total number of industrial properties under construction in Lakeland to seven, for a million square feet in the works.

Meanwhile, Southern Wine and Spirits and Premier Transportation are both expanding in the market and building new facilities for themselves. Rooms to Go recently announced plans to expand their current facility by 300,000 feet. And Ruthvens plans to build 60,000 square feet of dock high space on Gateway Boulevard next to the O’Reilly building.

 

Source:  GlobeSt.

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Industrial, Industry News, NA, Office
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