{"id":1004398265,"date":"2020-03-09T04:36:51","date_gmt":"2020-03-09T12:36:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004398265"},"modified":"2021-05-15T06:38:40","modified_gmt":"2021-05-15T14:38:40","slug":"summit-holdings-breaks-ground-on-50m-hq","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/summit-holdings-breaks-ground-on-50m-hq\/","title":{"rendered":"Summit Holdings Breaks Ground on $50M HQ"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay<\/em><\/p><\/div>\n

Summit Holdings is getting a new headquarters. The workers\u2019 compensation insurance provider has broken ground on its new office building<\/a> in Lakeland, Fla., situated within the Lakeland-Winter Haven metropolitan area. The new development has a tentative completion by the fall of 2021.<\/p>\n

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READ ALSO<\/strong>: Cool Solution for a Florida Mega-Project<\/a><\/p>\n

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Located at 117 N. Massachusetts Ave., the eight-story, 135,000-square-foot Class A project will house nearly 500 of the company\u2019s 750 employees that will be relocated from Summit\u2019s other Lakeland office. According to The Ledger<\/em>, Summit purchased the 1.29 acres for $2.5 million from the City of Lakeland in late 2019. The company plans to spend $50 million to construct its new headquarters that will move employees over from its current office at 2310 Commerce Point Dr., according to the same source. Summit closed on the property on March 3.<\/p>\n

Carol Sipe, president & CEO of Summit, said in prepared remarks that the new offices will create significant economic benefits for downtown Lakeland, making the area even more successful and vibrant than it already is.<\/p>\n

Lakeland\u2019s industrial growth<\/h2>\n

While the growing downtown Lakeland features community events and local businesses, the city has seen a lot of activity in the industrial sector. In March 2018, a Los Angeles-based REIT purchased a 605,412-square-foot distribution facility in Lakeland<\/a> for $59.6 million. Earlier that year, Dalfen American Corp. purchased a four-property industrial portfolio<\/a>, three of which were in Lakeland, for $28.8 million.<\/p>\n

And in November, Amazon unveiled plans to build a more than 1 million-square-foot fulfillment center<\/a> in Auburndale, Fla, which is less than 30 minutes away from Lakeland, Fla.<\/p>\n","protected":false},"excerpt":{"rendered":"

The insurance company will move 500 employees to its new headquarters in Lakeland, Fla.<\/p>\n","protected":false},"author":883,"featured_media":1004330522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21742,21747],"tags":[],"class_list":["post-1004398265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-latest","category-office"],"acf":[],"yoast_head":"\nSummit Holdings Breaks Ground on $50M HQ - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/summit-holdings-breaks-ground-on-50m-hq\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Summit Holdings Breaks Ground on $50M HQ\" \/>\n<meta property=\"og:description\" content=\"The insurance company will move 500 employees to its new headquarters in Lakeland, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/summit-holdings-breaks-ground-on-50m-hq\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-09T12:36:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T14:38:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/office-news-01.-Image-via-Pixabay.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/summit-holdings-breaks-ground-on-50m-hq\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/summit-holdings-breaks-ground-on-50m-hq\/\",\"name\":\"Summit Holdings Breaks Ground on $50M HQ - 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