(AUG. 22, 2018 – LAKELAND, FLA.) – Ridge, the industrial development arm of Transwestern Development Co., today announces the disposition of Lakeland Logistics Center, a 490,000-square-foot property at 2015 – 2025 W. Memorial Blvd. in Lakeland, Florida. 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.
Ridge, the industrial arm of Transwestern Development Co., is a leading provider of corporate real estate development and investment in state-of-the-art warehouse, distribution and manufacturing facilities throughout North America. Ridge’s principals have been involved in the development, construction, ownership and management of more than 125 million square feet of institutional-quality real estate and have an average 25 years of experience in the real estate industry. Ridge is based in Chicago, with regional offices across the U.S. in Atlanta, Dallas, Los Angeles, Houston and Harrisburg, Pennsylvania.
ABOUT TRANSWESTERN DEVELOPMENT COMPANY
Transwestern Development Company (TDC®) is a diversified business with expertise and experience in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. Based in Houston, Transwestern Development Co. operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. The company has amassed valuable experience in construction, design, sustainability, leasing, acquisitions, finance and asset management. As a member of the Transwestern family of companies, the firm capitalizes on the market insights and operational expertise of its affiliates, which include a diversified real estate services firm with 35 U.S. offices and a real estate investment management company. Please visit transwesterndevelopment.com for more information.