News
PLANT CITY, Fla. (June 13, 2019) – Positioned in one of the fastest-growing industrial corridors between Tampa and Orlando, Foundry Commercial and Ascentris today announced that development plans are underway on the first phase of Lakeside Logistics I, a planned 1,000-acre park located just 15 miles east of Tampa and 40 miles southwest of Orlando. Lakeside Logistics is also situated 1.5 miles south of Interstate 4, the major highway that cuts directly across the Central Florida region and directly off U.S. Highway 92, a primary thoroughfare running through Polk, Hillsborough and Pinellas counties. Lakeside Logistics has 6.8 million square feet of entitlements, making it one of Florida’s premier state-of-the-art distribution hubs.
“Lakeside Logistics is designed to provide half-day truck service to the majority of Florida’s 21 million residents and tourism centers,” stated Moses Salcido, Principal of Development & Investment for Foundry Commercial. “E-commerce companies now demand same-day delivery and the location of Lakeside Logistics makes that possible.”
Lakeside Logistics Phase I and II will be developed by a joint venture between Ascentris, a Denver-based real estate private equity firm, and Orlando-based Foundry Commercial, a fully integrated commercial real estate services and investment company with approximately 350 associates across the Southeast and Texas. Groundbreaking for the Lakeside Logistics I building is scheduled for early this summer. Phase I of the development will deliver a 36’ clear, 500,000+ square foot, cross-dock warehouse distribution facility expected to be delivered early Spring 2020. Subsequent phases ranging from 100,000 to 1,000,000 square feet are in planning stages, with the expectation that Lakeside Logistics II (the project’s second phase) will be delivered in 2020. Lakeside Logistics I marks the tenth project developed by Foundry Commercial.
“In close proximity to consumers, labor and a confluence of heavily-trafficked roadways, Lakeside Logistics is the perfect spot for an industrial tenant who wants easy access not only to Orlando and Tampa, but to just about any market throughout the state,” added Salcido. “The site is located within miles of two international airports, a shipping port, and railways. We are delighted at the prospect of not only bringing Class A logistics facilities to the region and accommodating this demand, but in bringing new jobs to the region as well. This project was made more attractive by economic incentives from the local municipality, emphasizing the area’s pro-business stance, which we know is important to any new tenants who will occupy this space.”
At this time, build-to-suit opportunities exist at Lakeside Logistics. For more information about Foundry Commercial and Lakeside Logistics Park, contact Justin Rudy (for Orlando leasing inquiries) at 407-540-7727 or Kostas Stoilas (for Tampa leasing inquiries) at 813-444-3330. For continuing project updates, check back regularly at lakesidelogistics.info.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 330 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the Country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control nearly $1 billion in advantaged investment opportunities in partnership with its clients. Foundry Commercial was founded as CNL Commercial Real Estate in 2007 and launched as Foundry in 2015 through a management-led buyout. For more information, visit www.foundrycommercial.com.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado. With over $1.3 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting core, value-add and opportunistic investments across all the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure that results in its investors getting to opportunities ahead of the market while receiving an unmatched level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at www.ascentris.com.
Media Contact:
Lauren Leetun, APR
lleetun@findsomewinmore.com
(407) 592-7923