Exeter buys Polk County industrial property

A Pennsylvania-based commercial real estate investment firm has acquired a Polk County warehouse occupied by Amazon.com for $24.6 million, the latest in a series of industrial purchases and developments in the county aimed at taking advantage of the strategic Interstate 4 corridor.

Exeter 305 Dean Still LLC, an affiliate of Philadelphia-based Exeter Property Group, bought the 374,850-square-foot distribution center in Davenport from an affiliate of Los Angeles-based private equity firm Ares Capital Corp., according to property records.

Ares Capital acquired the 305 Dean Still Road property in May 2011 for $15.4 million, records show. The property was developed in 1999, Polk County records indicate.