Stonemont Financial Group has sold a 348,740-square-foot, class A industrial facility located at 5205 Drane Field Rd. in Lakeland, Fla., for $50 million.
JLL represented the seller in the transaction. A client advised by MetLife Investment Management acquired the asset.
The newly constructed cross-dock distribution center is situated on 20.9 acres within Lakeland Commerce Center, one of Central Florida's premier logistics parks. The state-of-the-art facility features 36-foot clear heights, 95 dock-high doors, four drive-in doors, 185-foot truck court depths, 206 car parking spaces and 132 trailer parking spaces. The property is 100 percent leased to LG Electronics USA, a subsidiary of the global consumer electronics and appliance giant LG Corporation.
Positioned between Tampa and Orlando along the Interstate 4 corridor, the Lakeland location offers exceptional access to more than 13.6 million consumers within a three-hour drive.
