XEBEC ACQUIRES 60-ACRE SITE IN CENTRAL FLORIDA
Company Plans to Invest $39 Million to Develop a 553,000 SF Regional Bulk Logistics Facility in the Interstate-4 Corridor
Dallas and Lakeland, Florida (May 1, 2018) – Xebec™ announces the acquisition of a 60-acre site located in Lakeland, Florida along Interstate-4, a key logistics corridor that is home to one of the largest concentrations of distribution centers in the state of Florida. Xebec plans to invest a total of $39.3 million to develop a 533,000-square-foot, Class-A regional bulk logistics facility to meet demand from major retailers, distributors and third‑party logistics providers looking to reach consumers in the state of Florida.
“The project is located in a submarket that is less than 45 minutes from both Tampa and Orlando, two of the nation’s fastest growing metropolitan areas,” said Randy Kendrick, founder and CEO of Xebec. “The corridor between those two cities is home to nearly 207 million square feet of industrial real estate space and we believe the region will continue to experience demand for facilities of this size because of its growing demographic base and reach.”
The Lakeland submarket is home to more than 30 million square feet of industrial real estate and boasts logistical competitive advantages including access to major population centers such as Miami, Atlanta and Birmingham, Alabama within a one-day truck drive. Users can reach 19 million consumers within a 200-mile radius from the project and are within a one-hour drive from three international airports.
“This is a premier location that is home to companies like Walmart, Coca-Cola, Amazon, Publix Supermarkets and more,” said Kendrick. “We believe there will be strong tenant demand for the project because of the limited supply of high quality facilities of this size in the region, and its vital location to reach consumers across the Southeast.”
The site is located just north of Interstate-4, less than 2 miles from the Lakeland Hills Boulevard exit. The preliminary address for the site is 8355 FL-33, Lakeland, FL 33809. Construction on the 533,000-square-foot facility is expected to commence in the fourth quarter of 2018 and be completed in the third quarter of 2019. The finished facility will have a 40-foot clear height and a 185-foot truck court with 114 docks, 368 automobile parking spaces, and 102 container parking spaces.
According to the Xebec, the state of Florida benefits from continued economic growth and has an unemployment rate of 3.7 percent. Polk County, which encompasses Lakeland, has an unemployment rate of 4 percent.
The Lakeland acquisition supports Xebec’s national investment strategy to build for the specific, unique demands in each of its target markets across the United States. Xebec currently has more than 6.5 million square feet of industrial buildings in development in select logistics markets including Dallas, Atlanta, Charleston, South Carolina, Los Angeles Basin and Columbus, Ohio
Xebec is a private, vertically integrated real estate firm that focuses on the acquisition, development and management of warehouse and distribution facilities located in top tier logistics markets in the western U.S with major port and intermodal infrastructure. The genesis of Xebec dates back to 1986, with a focus on infill industrial development in the highly competitive central market of Los Angeles. In 1996, Randy Kendrick and John Lehr formed Xebec and have since built the firm into one of the top industrial developers in Southern California. These principals provide long term and stable management with more than 60 years of combined experience in acquisition, development, finance and asset management. Learn more about Xebec at www.XebecRealty.com