Brennan Investment Group has purchased 164.85 acres in Lakeland, Fla., for an undisclosed price. The site plan for a speculative industrial development, to be called CenterState Logistics Park East, has zoning approval for a total of up to 1.5 million square feet.
The seller was Ruthven I-4, LLC.
“Absorption of industrial space in this area has been driven, in part, by e-commerce responding to demand for same-day delivery to nearby population centers,” said Edward Miller, CCIM, SIOR, of Colliers International Tampa Bay, which represented Brennan in the land purchase transaction. “CenterState Logistics Park East is equidistant to the booming population centers of Orlando and Tampa and offers access to more than 15 million consumers within a four-hour drive.”
Brennan Investment Group will begin development of 1 million square feet of space at CenterState Logistics Park East within the month, with completion expected by the end of 2020. The site is located at Exit 38 on Interstate 4. With a mile of frontage on I-4, it has more frontage than any other industrial site along the I-4 corridor.
