By Robert Demeter
JLL has closed the sale of 3850 Old Tampa Highway, an 119,257-square-foot industrial facility located near Tampa, in Lakeland, Fla. Graham Commercial Properties purchased the state-of-the-art, cross-dock facility for $7.7 million.
The sale comes just after JLL leased space at the facility to CHEP USA for the company’s new regional distribution center. The lease brought the property to 100 percent occupancy.
JLL Associate Ryan Vaught represented the property’s previous owner, Brian Pearlman, in both the sale and lease negotiations.
“3850 Old Tampa Highway offers functionality that cannot be found anywhere else in Central Florida,” Vaught said in a prepared statement. “The fact that the cross-dock warehouse sits on 20 acres of land and is located a stone’s throw away from major distributors such as Publix Super Markets, were the driving factors that motivated CHEP to move into the facility and for the new ownership to invest in the property.”
The property is located in close proximity to Interstate 4 and State Road 417. In addition to Publix Super Markets, neighboring distribution facilities include Rooms to Go, Amazon, Advance Auto Parts and Southern Wine & Spirits.
3850 Old Tampa Highway offers 2.1-plus acres of dedicated trailer storage, oversized truck courts, 1200 amps of power, 30 foot clear height, 20 dock-high doors, ESFR sprinkler system with oversized pump and one 18-foot-wide ramp with an oversized loading door.
Photo courtesy of JLL