Foundry Commercial, Ascentris Close on Sale of First Phase of Lakeside Logistics Industrial Park
Posted on August 24, 2021
Plant City, Fla. (August 23, 2021) – Located in one of the fastest-growing industrial corridors between Orlando and Tampa, the first phase of Lakeside Logistics was recently sold to CBRE Global Investors, a real estate assets investment management firm. The sellers were Foundry Commercial, a full-service real estate services and investment firm with offices across the Sun Belt, and Ascentris, a real estate private equity firm.
Lakeside Logistics Phase I encompasses a 505,160-square-foot, newly constructed, Class A, cross-dock industrial building located in Plant City, Fla, just 22 miles east of Tampa and 56 miles southwest of Orlando. The facility features tilt-wall construction, 36’ minimum clear heights, ESFR fire protection, 2,000 AMP (3-phase) power, 303 car parking stalls, 185’ truck court depths with 60’ concrete aprons, LED interior and exterior lighting, and 50’ x 48’ column spacing.
Lakeside Logistics is situated less than 1.5 miles south of Interstate 4 (I-4), which links the Central Florida region and directly off U.S. Highway 92, a primary thoroughfare through Polk, Hillsborough, and Pinellas counties.
“Despite a pandemic, we pushed forward with the development of Lakeside Logistics, knowing demand continues to outpace supply in one of the most active industrial markets in the southeast,” said Moses Salcido, SIOR, Principal of Development & Investments for Foundry Commercial. “We feel fortunate to have partnered with Ascentris and Lakeside’s land ownership in delivering a successful execution.”
Foundry recently started construction on Phase II at Lakeside Logistics which consists of two additional buildings totaling 414,000 square feet. When finished, the total project will comprise more than 1 million square feet. Foundry Commercial’s industrial development portfolio includes over 15 million square feet of active and recently completed projects across the Southeast.