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Commercial Real Estate
Business Observer Thursday, Jul. 8, 2021 5 months ago

Massive spec industrial project in Interstate 4 corridor completed

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CenterState Logistics Park East is the largest project of its kind to be developed in Central Florida.

A partnership between Brennan Investment Group and Grandview Partners has completed work on the CenterState Logistics Park East, a 1.01 million-square-foot distribution project in Lakeland.

In addition to its sheer size, the roughly $100 million project is significant because it was developed on a speculative basis without commitments from tenants prior to construction. It represents the largest single-building speculative development in Central Florida history.

Brennan, which developed more than 1 million square feet of similar space elsewhere in Lakeland in 2017 — ultimately leasing it to Pepsico divisions — began work on the 165-acre CenterState Logistics Park East site, at 8565 State Road 33, last year.

A team from commercial real estate brokerage firm Colliers’ Tampa office led by executive managing directors Dee Seymour and Ed Miller is marketing the space for lease.

The property is expected to draw heavy interest from retailers and other distributors because more than 15 million consumers live within a four-hour drive, and because of its close proximity to airports in Tampa and Orlando and a CSX Intermodal Center.

Located just off Interstate 4, the project has more than 5,000 feet of frontage on the highway and about 90,000 vehicles pass by daily.

CenterState Logistics Park East also features a 40-foot-clear ceiling height and other modern logistics attributes.

 

 

 

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