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.
Phase I of Lakeside Logistics, the recently sold 505,160-square-foot industrial building in Plant City, Florida. The sellers were Foundry Commercial and Ascentris, and the buyer was CBRE Global Investors.
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.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 380 employees and more than 60 million square feet of management and leasing across the Sun Belt. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services, 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 more than $1.5 billion in advantaged investment opportunities with their JV partners. For more information, visit www.foundrycommercial.com.
Ascentris is a real estate private equity firm based in Denver, Colorado. With over $2.2 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting both core and value-add investments across 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.