Investor buys distribution center for nearly $50 million

A New York-based real estate investment trust has acquired a Plant City distribution center built speculatively last year for $48.49 million, Hillsborough County property records show.

Lexington Realty Trust bought the 510,272-square-foot property from a partnership involving Wharton Industrial of New York, Red Rock Developments of South Carolina and Aspyre Properties, of Lakeland. Property records indicate that Washington, D.C.-based The Carlyle Group was also involved in the project.