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A confluence of factors ranging from residential growth statewide to shrinking inventory and a desire for updated building features is spurring a wave of speculative industrial development in the Interstate 4 corridor between Tampa and Orlando.

In all, more than 2 million square feet of distribution space is either under construction or planned in the corridor, the result of the growing acceptance of Internet-based commerce and the area's central location. From Lakeland and Plant City, for instance, distributors can reach roughly 18 million residents within a day's drive.

Already, there is 500,000 square feet of speculative space that is being built, says Rian Smith, a first vice president with commercial brokerage firm CBRE Inc. who specializes in industrial projects.