Ridge Development Breaks Ground On 490,000 SF Spec Industrial Project

Jun 01, 2015 No Comments by

Lakeland Logistics CenterRidge Development, the industrial development arm of Transwestern Development Co., has commenced construction on a 245,000-square-foot Class A, distribution building − the first of two buildings in a new 46.5-acre business park called Lakeland Logistics Center. The speculative building is slated for delivery by year-end, and the second 245,000-square-foot building is currently available as a build-to-suit opportunity. Located at 2011 – 2211 W. Memorial Blvd. in Lakeland, the project is owned by a joint venture between Ridge Development and AEW Capital Management. AEW is developing the project on behalf of one of its separate account clients.

 

“With a combination of Lakeland’s historically low vacancy rate and high demand from users offering same-day delivery to customers, Ridge is confident the speculative development will lease up quickly,” said Steve Kros, executive vice president at Ridge. “These buildings will be ideal for large-scale retailers or distributors looking to service a wide customer base within 24 hours.”

Lakeland Logistics Center is situated within two 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 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 6-acre staging base for trailer storage or parking.

Leasing services are being provided by Julia Silva Rettig, Jeff Lamm, Jared Bonshire and David Perez of Cushman & Wakefield.

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