Tampa-Area Industrial Facility Trades for $15M
1 min read
The newly-developed property is 50 percent occupied by a tenant that pre-leased the space before its completion.
Bobeck Real Estate has acquired a 222,134-square-foot speculative warehouse and distribution center in Lakeland, Fla., from Blue Steel Development. The asset traded for $15.1 million.
The developer completed construction of the facility this month. The property was more than 50 percent pre-leased before completion. The tenant, which is slated to use the space as a regional distribution center, will start operating at the property in December. Features at the property include insulated ceilings and ESFR fire sprinklers.
Located at 5275 Drane Field Road, on roughly 20 acres, the development is 3 miles from Interstate 4. The asset is within a few miles of Lakeland Linder International Airport and 6 miles southwest of downtown Lakeland.
Ryan Vaught, Robyn Hurrell, and Oliver Vaubois of Colliers International represented the seller in the transaction, and the landlord in the lease deal. Jack Brown of Graham & Co., represented the tenant. Recently, another Colliers team represented the seller of a three-property industrial complex encompassing 198,000 square feet in Oviedo, Fla. The sale closed for $22.2 million.