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BUYER: Kellogg Ventures LLC (managers: Lora and William Kellogg), Lakeland
SELLER: Pilot Building at Lakeland LLC
PROPERTY: 439 S. Florida Ave., Lakeland
PRICE: $1.25 million
PREVIOUS PRICE: $2 million, January 2007
LAW FIRM ON DEED: Clark Campbell Lancaster & Munson PA, Lakeland
PLANS, DESCRIPTION:
A company led by Lora and William Kellogg of Lakeland purchased the 10,000-square-foot top level of a three-story office building in downtown Lakeland for $1.25 million.
The price equated to $125 per square foot. That figure is higher than the two-year average price per square foot for office space ($119) in the Tampa Bay area, according to the CoStar Group.
The third-floor space already featured six existing executive offices, a glass-walled conference room and break room.
The office space was purchased to serve as the new expanded home of Kellogg Marketing. The Lakeland-based advertising agency currently operates from a 4,500-square-foot suite it owns at 5115 S. Lakeland Drive, Suite 3, Lakeland and additional rented space.
“We have some big things in the works, and this strategic move gives us more capacity to handle even more in the years to come,” says Lora Kellogg, president & CEO of Kellogg
Marketing. “We like having our presence in Lakeland. It's conveniently located between Tampa and Orlando, which makes it easier to attract high-level talent. This [new building] also brings all our employees back together again in a central location.”
The advertising agency, which currently employs 25 people, plans to hire five new employees in the next few months as part of its growth plan, according to Kellogg.
The buyer is renovating the space and hopes to move in by this summer. It plans to sell its current location.
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