Xebec Realty completes speculative distribution offering on Whitten Road just weeks after CenterState Logistics Park East wraps construction.
Xebec Realty has delivered its Logistix Hub at County Line industrial project, the second major speculative distribution offering to come to market in Lakeland in recent weeks.
The Los Angeles-based developer’s 404,040-square-foot project, at 3075 Whitten Road, follows Brennan Investment Group and Grandview Partners’ delivery of the 1.01 million-square-foot CenterState Logistics Park East development earlier this month.
Xebec kicked off development of Logistix Hub, on 40 acres in the West Lakeland Industrial Park, last August.
The industrial building joins a number of developments hoping to capitalize on a growing need for distribution space within the Interstate-4 corridor, between Tampa and Orlando. Many developers are opting to build speculatively, without tenants in place, to meet heightened demand by tenants unwilling to wait for construction and planning time lags.
Retailers and other distributors desire the I-4 Corridor because trucks can reach as many as 20 million consumers within a day’s drive.
Commercial real estate brokerage firm Cushman & Wakefield’s Tampa office is leading marketing efforts for Xebec at Logistix Hub.
The cross-dock warehouse project features a 36-foot-clear ceiling height, parking for 525 trailers and automobiles, an advanced fire suppression system and insulation for potential air conditioning installation.
It also contains a 175-foot truck court, 118 dock-high doors and four drive-in doors for efficient loading and a seven-inch thick concrete slab floor.
Cushman & Wakefield indicated last fall that asking rents at Logistix Hub would start at $5.35 per square foot, on a triple-net basis.
In all, Xebec has developed more than 11 million square feet of industrial space, according to its website.