Ridge Development, the industrial development arm of Transwestern Development Co., is currently constructing a 245,000-sq. ft. (22,761 sq m), Class A distribution building in Lakeland, Fla.
Ridge Development, the industrial development arm of Transwestern Development Co., is currently constructing a 245,000-sq. ft. (22,761 sq m), Class A distribution building in Lakeland, Fla. The building is the first of two being added by the company in a new 46.5-acre business park called Lakeland Logistics Center.
The first building will be completed by the end of the year, and the second, a 245,000 sq. ft. building, is currently available as a build-to-suit opportunity. The project is owned by a joint venture between Ridge Development and AEW Capital Management. AEW is developing the project on behalf of one of its separate account clients.
“With a combination of Lakeland’s historically low vacancy rate and high demand from users offering same-day delivery to customers, Ridge is confident the speculative development will lease up quickly,” said Steve Kros, executive vice president of Ridge. “These buildings will be ideal for large-scale retailers or distributors looking to service a wide customer base within 24 hours.”
Phase 1 began on May 1, and completion is scheduled for Dec. 15. Phase 1 includes demolition of existing improvements and construction of the 245,000 sq. ft., Class A distribution building. Phase 2 will involve the construction of a second 245,000 sq. ft., Class A distribution building.
Site work was done by BRW Contracting. The general contractor is The Conlan Company and the project is being managed out of its Jacksonville, Fla., office. Ryan Triesenberg is the senior project manager and Billy Latsko is project engineer. The Conlan Company is the largest builder of warehouse and distribution product in the United States, as ranked by Engineering News Record (ENR).
According to Stefanie Lewis, national marketing coordinator, Lakeland Logistics Center is situated within 2 mi. of Interstate 4 near the intersection of U.S. Highway 92 West and Wabash Avenue.
“This central location between Tampa and Orlando gives tenants access to 8.8 million people within a 200-mi. radius and allows for same-day delivery to any location in Florida,” she said. “Each building is divisible to 44,000 square feet and features front-load or cross-dock capability, 74 dock doors, 32-foot clear height, 45 trailer parking spaces and a 6-acre staging base for trailer storage or parking.”
Leasing services are being provided by Julia Silva Rettig, Jeff Lamm, Jared Bonshire and David Perez of Cushman & Wakefield.
For more information about AEW Capital Management, visit www.aew.com.