Summit Real Estate Group is pleased to announce that it has closed on a 33.4-acre industrial site east of Tampa, FL in the Lakeland MSA. Acquired on behalf of Summit’s Arrowrock US Industrial Fund IV, the development project will be known as Hamilton Logistics Center and include two buildings representing approximately 318,000 square feet.
Lakeland is part of the broader Central Florida region which also includes Tampa, Orlando, Ocala, and Wildwood. The region has grown to over 500 million square feet of industrial inventory due, in part, to a driver’s ability to reach the entire state of Florida within a 1-day return trip. More than seven million people live in the Central Florida region which is inter-connected by I-4, I-75, and the Florida Turnpike. Lakeland has grown into a leading institutional industrial market due to its location on I-4 and its proximity to Tampa (less than 30 minutes) and Orlando (less than 1-hour). Further, Lakeland draws from robust labor markets both in Polk County and other neighboring counties. Hamilton Logistics Center will be in the County Line Road corridor which spans the border of Polk County (Lakeland MSA) and Hillsborough County (Tampa MSA). The County Line Road corridor, just south of I-4, represents the most established and central industrial corridor in Lakeland.
With its flexible design, Hamilton Logistics Center seeks to attract area manufacturing, distribution, and industrial services companies. At approximately 135,000 square feet, Building 100 will be a Class A rear-load, multi-tenant warehouse with 32’ clear heights and a 135’ truck court. At approximately 183,000 square feet, Building 200 will be a Class A rear-load, multi-tenant warehouse with 32’ clear heights and a 185’ truck court with space available for trailer parking. Summit anticipates starting construction Q2 2024 and delivering the two buildings Q4 2024.